(Reuters) - Dufry, the Swiss duty-free company, reported a 113.4 percent increase in first-quarter sales, beating market estimates, thanks to its acquisition of Autogrill and growth in global travel demand.

The retailer, which operates more than 2,300 stores inside airports, cruise ships, seaports, and other tourist locations around the world, has benefited from a strong global travel recovery, particularly in Europe and the United States, since lockdowns imposed due to the pandemic were lifted.

Dufry launched a mandatory tender offer for all shares of Autogrill in February, after finalizing the agreement to purchase a 50.3 percent majority stake from Edizione. Last week it extended the offer period until May 18.

Sales in the Asia-Pacific region rose 276.9 percent in the first quarter, thanks to the easing of restrictions in China.

(Translated by Chiara Bontacchio, editing Stefano Bernabei)