fairn-swanson

Key Challenge

Onyx, with a strategic partner (one of the world’s largest duty-free and in-flight operators), executed an outright speculative purchase of all assets of Fairn & Swanson, a bankrupt duty-free operator serving the cruise industry.

Key Takeaway

The asset that we acquired included over $37 million in wholesale cost bottled inventory of wine and spirits (including over 180,000 cases of wine), intellectual property, and machinery and equipment. The US Customs restriction of not being able to sell directly into the domestic market required alternative strategies with a focus on the international and duty-free markets.