from LAGARDERE (EPA:MMB)
Lagardère SA announces that Lagardère Travel Retail has closed today the acquisition of Tastes on the Fly, an award-winning Foodservice operator in North America
Paris, 1 November 2023
Lagardère SA announces that Lagardère Travel Retail has closed today the acquisition of Tastes on the Fly, an award-winning Foodservice operator in North America
Announced on 6 September, this acquisition aligns with Lagardère Travel Retail’s ambition to solidify its position as a leading airport Foodservice operator in the region.
With the integration of Tastes on the Fly, Paradies Lagardère, Lagardère Travel Retail’s North American division, further consolidates its position as the second-largest operator in the North American Travel Retail and Foodservice industry, with total annual revenues exceeding USD 1.5 billion.
Leveraging the complementary nature of both companies’ locations and concepts, this transaction will generate commercial and financial synergies in the North American market, which offers attractive growth prospects.
The integration of the two Foodservice operations will begin immediately, led by Paradies Lagardère President and Chief Executive Officer Gregg Paradies. Tastes on the Fly will be consolidated in Lagardère’s financial statements as of today.
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Created in 1992, Lagardère is an international group with operations in more than 40 countries worldwide. It employs some 27,400 people and generated revenue of €6,929 million in 2022. The Group focuses on three divisions: Lagardère Publishing (Book and e-Publishing, Board Games and Mobile Games), Lagardère Travel Retail (Travel Essentials, Duty Free & Fashion and Foodservice) and Lagardère News (Paris Match, Le Journal du Dimanche, JDD Magazine, Europe 1, Europe 2, RFM, and the Elle brand licence). The Group’s operating assets also include Lagardère Live Entertainment and Lagardère Paris Racing. Lagardère shares are listed on Euronext Paris. www.lagardere.com |
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Investor Relations Contact
Emmanuel Rapin Tel. +33 1 40 69 17 45 erapin@lagardere.fr