Project Description

– Creating a world leader in travel retail

Our client was a global Travel Retailer with operations in over 45 countries and a global market share of 15% at the time, with 21 800 shops and a revenue of close to 6 billion CHF. The client had just realized an acquisition of one of their key competitors in the Travel Retail Industry increasing countries from 45 to 60, effecting approximately 800 employees.

Ambition of the project was to integrate the two organisations and identify 60% benefits on corporate organisations. In addition, to identify and define an implementation plan to realise 35 million CHF in commercial synergies, and to ensure an effective integration of geographical fit.

The project was set up with seven organizational integration streams and five streams focusing specifically on identifying commercial synergies. All work streams were set up with clear objectives, separate integration teams, defined key activities and deliverables.

Each work stream used internal project leaders with coaching from Bene Agere, except for Commercial Terms & Conditions, which was led by a Bene Agere consultant.

The organizational approach was to analyse the “As Is” structure, capabilities, processes tools and evaluated whether to a) Integrate b) Use one of existing c) Consolidate globally

Commercial synergies streams focused on specific functional improvements to deliver an EBIT improvement of 10% through five projects.

The results:
  • Organizational synergies identified, common processes, responsibilities and work methods established
  • Commercial synergies target identified broken into five key areas included in 2015 budgets
  • Increased EBIT of 11%

“One of the most effective integrations we have ever done” – Company COO


Rapid communication and decisions regarding organization to secure key personnel is of highest importance

Collaborative approach between acquirer and acquiree may vary between areas of strategic direction, eg. target to global consolidation need less collaborative approach, while parts of the business that will integrate need a higher degree of collaboration