Lagardère Travel Retail acquires businesses in Poland and Estonia
Finance, Lagardère Travel Retail
November 2, 2016
On October 31st, Lagardère Travel Retail – a major player in travel retail business – signed an agreement with Inflight Service Group (“IFS”) – the owner of EuroShop stores at airports and ferries – for the acquisition of its businesses in Poland and Estonia.
The transaction aims at acquiring the activities of IFS Poland – 5 stores at Modlin airport, duty free operations on Polish Unity Line ferries – and of IFS Estonia – 3 stores at Tallin airport and 1 store at seaport.
The completion of the Polish transaction is subject to a number of conditions, including regulatory approval.
This acquisition marks a significant expansion in the duty free activities of the company in the region. It is in line with the Lagardère Group’s strategy of expanding in growth businesses and developing retail space in travel locations.
ABOUT INFLIGHT SERVICE GROUP :
Inflight Service Group ("IFS") is a leading travel retail specialist primarily focused on airline retailing, ferry retailing and the operation of airport shops alongside a small presence in wholesale and retail services.
ABOUT LAGARDERE TRAVEL RETAIL:
Lagardère Travel Retail is one of the four branches of Lagardère Group.
The Lagardère Group is a global leader in content production and distribution. Lagardère generates 65% of its business in nearly 40 countries (excluding France). The Group is listed on the Paris stock exchange market.
Lagardère Travel Retail is 4th largest travel retailer by sales worldwide. The company operates all three Travel Retail segments: Duty Free and Luxury, Travel Essentials, and Foodservice, in 30 countries and 220 airports across five continents.
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