Lotte Duty Free completed the acquisition of JR/Duty Free’s Australian and New Zealand business.

Lotte Duty Free, a duty free shops owner, completed the acquisition of JR/Duty Free’s Australian and New Zealand duty free shops business. Financial terms were not disclosed. “The involvement of senior Lotte personnel with senior James Richardson management in recent months has only strengthened our view that the expertise of the JR team is a strong foundation for Lotte’s planned growth in Australia and New Zealand,” Chang Young Park, Lotte Business Development Managing Director.