Completion of the disposal by Lagardère Travel Retail of its Spanish press distribution business
Lagardère Travel Retail
Paris, February 26, 2016
Lagardère Travel Retail closed the sale of its Spanish press distribution business SGEL to Springwater Capital, a private investment firm.
This transaction represents a new step in the announced strategy to focus on Travel Retail’s growth businesses, especially in airports.
Travel Retail activities in Spain and Portugal are not included in this transaction and remain consolidated by the division.
The activities sold represented consolidated sales of €287m and normalized recurring EBIT (1) of approximately €8.5m in 2015.
This agreement will allow Springwater Capital to accelerate the process of diversification and development of the company, whilst pursuing the optimisation initiated for many years.
(1) Recurring EBIT before associates.
ABOUT LAGARDÈRE TRAVEL RETAIL:
One of the four divisions of Lagardère Group, Lagardère Travel Retail is a pioneering global leader in the travel industry. Operating 4,700 stores across Travel Essentials, Duty Free and Foodservice in airports, railway stations and other concessions in 30+ countries worldwide, Lagardère Travel Retail generated, in 2015, €3.5bn of consolidated sales.
Lagardère Travel Retail has a unique holistic approach aimed at exceeding travellers' expectations throughout their journey and optimizing landlords' assets and partners' brands.
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