LTR sells $491m Belgian arm and franchises Relay

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return false;" rel="nofollow">Download Article as PDF</a></li> <li class="mobile-hidden"><a href="https://www.trbusiness.com/regional-news/europe/ltr-sells-491m-belgian-arm-and-franchises-relay/101052?print=1" title="Print" onclick="window.open(this.href,'win2','status=no,toolbar=no,scrollbars=yes,titlebar=no,menubar=no,resizable=yes,width=640,height=480,directories=no,location=no'); return false;" rel="nofollow">View Print version</a></li> <li class="mobile-hidden"><a id="sendEmailBtn" href="#sendasemail" title="Send as Email" rel="nofollow">Send as Email</a></li> </ul> </footer> <header> <h1>LTR sells $491m Belgian arm and franchises Relay</h1> <p>By <a href="#" class="author">Doug Newhouse</a> <span class="mobile-hidden"> | </span><time datetime="2014-06-10">Saturday, 6 February 2016 8:36</time></p> </header> <div class="page-content"><p><a href="https://ps-image-bucket.s3.amazonaws.com/trbusiness.com/wp-content/uploads/2016/02/Top-Relay-Zaventem-arrivals-copy.jpg" rel="attachment wp-att-101054"><img title="WWW.Lucnix.be" class="alignright wp-image-101054 size-full" src="https://ps-image-bucket.s3.amazonaws.com/trbusiness.com/wp-content/uploads/2016/02/Top-Relay-Zaventem-arrivals-copy.jpg" alt="Relay Zaventem Airport." width="220" height="138" /></a><strong>Lagardère Travel Retail (LTR) announced yesterday that that is ‘continuing its exit from the press distribution and integrated retail business’ with the recent signed agreement to sell its Belgium Distribution subsidiary to bpost group <em>(Belgian postal operator-Ed).</em></strong></p> <p> </p> <p>The company says that while the proposed sale remains subject to regulatory approvals, it is in line with the retailer’s core focus strategy to concentrate on travel retail businesses that offer the main growth in future.</p> <p> </p> <p>In a formal statement, the company added: “This agreement will allow bpost to pursue to its growth strategy, based mainly on diversification through new activities in the convenience store sector.</p> <p> </p> <div id="attachment_101056" style="width: 581px" class="wp-caption alignnone"><a href="https://ps-image-bucket.s3.amazonaws.com/trbusiness.com/wp-content/uploads/2016/02/Relay-Zaventem-arrivals-big.jpg" rel="attachment wp-att-101056"><img title="WWW.Lucnix.be" aria-describedby="caption-attachment-101056" class="wp-image-101056 size-full" src="https://ps-image-bucket.s3.amazonaws.com/trbusiness.com/wp-content/uploads/2016/02/Relay-Zaventem-arrivals-big.jpg" alt="" width="571" height="261" /></a><p id="caption-attachment-101056" class="wp-caption-text"><strong>The Relay store in the arrivals area at Brussels Zaventem Airport.</strong></p></div> <p> </p> <p>“The current bpost and Lagardère Travel Retail chains will retain their specific features and their product lines. A franchising agreement for the distribution and operation of Lagardère group brands <em>(Relay, Hubiz, So Coffee, etc.)</em> in Belgium will also be entered into between the two parties concerned.”</p> <p> </p> <div id="attachment_90052" style="width: 134px" class="wp-caption alignright"><a href="https://ps-image-bucket.s3.amazonaws.com/trbusiness.com/wp-content/uploads/old-site/stories/Retailers/LSTR/dag-rasmussen-350.jpg" rel="attachment wp-att-90052"><img title="dag-rasmussen-350" aria-describedby="caption-attachment-90052" class="wp-image-90052" src="https://ps-image-bucket.s3.amazonaws.com/trbusiness.com/wp-content/uploads/old-site/stories/Retailers/LSTR/dag-rasmussen-350.jpg" alt="Dag Rasmussen, CEO, Lagardère Travel Retail. " width="124" height="168" /></a><p id="caption-attachment-90052" class="wp-caption-text"><strong>Dag Rasmussen, CEO, Lagardère Travel Retail.</strong></p></div> <p>At present, Lagardère Travel Retail also distributes newspapers and magazines to some 5, 345 points of sale and has built up a network of some 735 parcel pick-up and delivery points in Belgium under the Kariboo! brand, as well as other value-added e-commerce solutions. <em>[The businesses covered by this divestment project generated consolidated revenues of about €440m/$491m in 2014-Ed].</em></p> <p> </p> <p>This acquisition project applies to 100% of the capital of LS Distribution Benelux and AMP, which posted consolidated turnover of €440m in 2014. bpost and the acquired entities will remain separate with the aim of developing the business, although synergies may be realized where that adds value for the group.</p> <p> </p> <div id="attachment_101057" style="width: 581px" class="wp-caption alignnone"><a href="https://ps-image-bucket.s3.amazonaws.com/trbusiness.com/wp-content/uploads/2016/02/The-Press-Shop-Wijnegem.jpg" rel="attachment wp-att-101057"><img title="The Press Shop Wijnegem" aria-describedby="caption-attachment-101057" class="wp-image-101057 size-full" src="https://ps-image-bucket.s3.amazonaws.com/trbusiness.com/wp-content/uploads/2016/02/The-Press-Shop-Wijnegem.jpg" alt="The Press Shop in Wijnegem, Antwerp, Belgium." width="571" height="364" /></a><p id="caption-attachment-101057" class="wp-caption-text"><strong>The Press Shop in Wijnegem, Antwerp, Belgium. The Press Shop is one of the brands being sold.</strong></p></div> <p> </p> <div id="attachment_101058" style="width: 122px" class="wp-caption alignleft"><a href="https://ps-image-bucket.s3.amazonaws.com/trbusiness.com/wp-content/uploads/2016/02/Koen-Van-Gerven-CEO-of-bpost.jpg" rel="attachment wp-att-101058"><img title="Koen Van Gerven, CEO of bpost" aria-describedby="caption-attachment-101058" class="wp-image-101058" src="https://ps-image-bucket.s3.amazonaws.com/trbusiness.com/wp-content/uploads/2016/02/Koen-Van-Gerven-CEO-of-bpost.jpg" alt="Koen Van Gerven, CEO of bpost" width="112" height="129" /></a><p id="caption-attachment-101058" class="wp-caption-text"><strong>Koen Van Gerven, CEO, bpost.</strong></p></div> <p>Koen Van Gerven, CEO of bpost, said: “This acquisition will enable bpost to truly diversify its activities in a profitable growth business responding to the new customer needs to have always more proximity and convenience. It also enables us to face up to the intense competition on the Belgian parcels market.”</p> <p> </p> <p>LTR’s existing press distribution and integrated retail business includes around 220 POS at retail in Belgium, with the group of companies involved at airports, railway stations and other locations including the key Press Shop and Relay brands. The company also distributes newspapers and magazines where it already has a business relationship with bpost.</p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p>This proposed sale is in line with Lagardère Travel Retail’s exit from the press distribution and integrated retail business in Spain last October when it sold its Spanish Distribution subsidiary SGEL to Springwater Capital, a private investment firm.</p> <p> </p> <p>However, travel retail activities in Spain and Portugal were not included in this transaction with the activities divested representing consolidated sales of approximately €300m ($335m).</p> <p> </p> <p>The process of selling Lagardère Travel Retail’s other press distribution and integrated retail companies in Hungary and Canada is understood to be ongoing.</p> <p> </p> <p>The travel retailer ranked fourth in <em>TRBusiness</em> exclusive Top 10 International Operators 2015 report with sales of $3.60bn in 2014, behind Dufry with $4.2BN; DFS Group with $4.20bn; and Lotte Duty Free with $4.02bn.</p> <p> </p> <p> </p> <p> </p> <div class="sharebtn-cvr"> <p><span><em><strong>Like what you’re reading? 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} } @media screen { .article-block-print{display: none} } @media print{ #header,#main,#footer,.fixed-popup{display:none !important;} } </style> <article class="article-block-print"> <header style="margin-top:-5px;"> <h1 style="font-size:24px;font-weight:bold">LTR sells $491m Belgian arm and franchises Relay</h1> <p>By <span class="author">Doug Newhouse</span> <span class="mobile-hidden"> | </span> <time datetime="2014-06-10">Saturday, 6 February 2016 8:36</time></p> </header> <div class="page-content"> <p><a href="https://ps-image-bucket.s3.amazonaws.com/trbusiness.com/wp-content/uploads/2016/02/Top-Relay-Zaventem-arrivals-copy.jpg" rel="attachment wp-att-101054"><img title="WWW.Lucnix.be" class="alignright wp-image-101054 size-full" src="https://ps-image-bucket.s3.amazonaws.com/trbusiness.com/wp-content/uploads/2016/02/Top-Relay-Zaventem-arrivals-copy.jpg" alt="Relay Zaventem Airport." width="220" height="138" /></a><strong>Lagardère Travel Retail (LTR) announced yesterday that that is ‘continuing its exit from the press distribution and integrated retail business’ with the recent signed agreement to sell its Belgium Distribution subsidiary to bpost group <em>(Belgian postal operator-Ed).</em></strong></p> <p> </p> <p>The company says that while the proposed sale remains subject to regulatory approvals, it is in line with the retailer’s core focus strategy to concentrate on travel retail businesses that offer the main growth in future.</p> <p> </p> <p>In a formal statement, the company added: “This agreement will allow bpost to pursue to its growth strategy, based mainly on diversification through new activities in the convenience store sector.</p> <p> </p> <div id="attachment_101056" style="width: 581px" class="wp-caption alignnone"><a href="https://ps-image-bucket.s3.amazonaws.com/trbusiness.com/wp-content/uploads/2016/02/Relay-Zaventem-arrivals-big.jpg" rel="attachment wp-att-101056"><img title="WWW.Lucnix.be" aria-describedby="caption-attachment-101056" class="wp-image-101056 size-full" src="https://ps-image-bucket.s3.amazonaws.com/trbusiness.com/wp-content/uploads/2016/02/Relay-Zaventem-arrivals-big.jpg" alt="" width="571" height="261" /></a><p id="caption-attachment-101056" class="wp-caption-text"><strong>The Relay store in the arrivals area at Brussels Zaventem Airport.</strong></p></div> <p> </p> <p>“The current bpost and Lagardère Travel Retail chains will retain their specific features and their product lines. A franchising agreement for the distribution and operation of Lagardère group brands <em>(Relay, Hubiz, So Coffee, etc.)</em> in Belgium will also be entered into between the two parties concerned.”</p> <p> </p> <div id="attachment_90052" style="width: 134px" class="wp-caption alignright"><a href="https://ps-image-bucket.s3.amazonaws.com/trbusiness.com/wp-content/uploads/old-site/stories/Retailers/LSTR/dag-rasmussen-350.jpg" rel="attachment wp-att-90052"><img title="dag-rasmussen-350" aria-describedby="caption-attachment-90052" class="wp-image-90052" src="https://ps-image-bucket.s3.amazonaws.com/trbusiness.com/wp-content/uploads/old-site/stories/Retailers/LSTR/dag-rasmussen-350.jpg" alt="Dag Rasmussen, CEO, Lagardère Travel Retail. " width="124" height="168" /></a><p id="caption-attachment-90052" class="wp-caption-text"><strong>Dag Rasmussen, CEO, Lagardère Travel Retail.</strong></p></div> <p>At present, Lagardère Travel Retail also distributes newspapers and magazines to some 5, 345 points of sale and has built up a network of some 735 parcel pick-up and delivery points in Belgium under the Kariboo! brand, as well as other value-added e-commerce solutions. <em>[The businesses covered by this divestment project generated consolidated revenues of about €440m/$491m in 2014-Ed].</em></p> <p> </p> <p>This acquisition project applies to 100% of the capital of LS Distribution Benelux and AMP, which posted consolidated turnover of €440m in 2014. bpost and the acquired entities will remain separate with the aim of developing the business, although synergies may be realized where that adds value for the group.</p> <p> </p> <div id="attachment_101057" style="width: 581px" class="wp-caption alignnone"><a href="https://ps-image-bucket.s3.amazonaws.com/trbusiness.com/wp-content/uploads/2016/02/The-Press-Shop-Wijnegem.jpg" rel="attachment wp-att-101057"><img title="The Press Shop Wijnegem" aria-describedby="caption-attachment-101057" class="wp-image-101057 size-full" src="https://ps-image-bucket.s3.amazonaws.com/trbusiness.com/wp-content/uploads/2016/02/The-Press-Shop-Wijnegem.jpg" alt="The Press Shop in Wijnegem, Antwerp, Belgium." width="571" height="364" /></a><p id="caption-attachment-101057" class="wp-caption-text"><strong>The Press Shop in Wijnegem, Antwerp, Belgium. The Press Shop is one of the brands being sold.</strong></p></div> <p> </p> <div id="attachment_101058" style="width: 122px" class="wp-caption alignleft"><a href="https://ps-image-bucket.s3.amazonaws.com/trbusiness.com/wp-content/uploads/2016/02/Koen-Van-Gerven-CEO-of-bpost.jpg" rel="attachment wp-att-101058"><img title="Koen Van Gerven, CEO of bpost" aria-describedby="caption-attachment-101058" class="wp-image-101058" src="https://ps-image-bucket.s3.amazonaws.com/trbusiness.com/wp-content/uploads/2016/02/Koen-Van-Gerven-CEO-of-bpost.jpg" alt="Koen Van Gerven, CEO of bpost" width="112" height="129" /></a><p id="caption-attachment-101058" class="wp-caption-text"><strong>Koen Van Gerven, CEO, bpost.</strong></p></div> <p>Koen Van Gerven, CEO of bpost, said: “This acquisition will enable bpost to truly diversify its activities in a profitable growth business responding to the new customer needs to have always more proximity and convenience. It also enables us to face up to the intense competition on the Belgian parcels market.”</p> <p> </p> <p>LTR’s existing press distribution and integrated retail business includes around 220 POS at retail in Belgium, with the group of companies involved at airports, railway stations and other locations including the key Press Shop and Relay brands. The company also distributes newspapers and magazines where it already has a business relationship with bpost.</p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p>This proposed sale is in line with Lagardère Travel Retail’s exit from the press distribution and integrated retail business in Spain last October when it sold its Spanish Distribution subsidiary SGEL to Springwater Capital, a private investment firm.</p> <p> </p> <p>However, travel retail activities in Spain and Portugal were not included in this transaction with the activities divested representing consolidated sales of approximately €300m ($335m).</p> <p> </p> <p>The process of selling Lagardère Travel Retail’s other press distribution and integrated retail companies in Hungary and Canada is understood to be ongoing.</p> <p> </p> <p>The travel retailer ranked fourth in <em>TRBusiness</em> exclusive Top 10 International Operators 2015 report with sales of $3.60bn in 2014, behind Dufry with $4.2BN; DFS Group with $4.20bn; and Lotte Duty Free with $4.02bn.</p> <p> </p> <p> </p> <p> </p> </div> </article> <script type="text/javascript"> (function($) { $(window).resize(function() { if($('.page-content').length >0 && jQuery(window).width() <= 1001){ $.each($('.page-content'), function( key, value ) { $.each($(value).find('iframe'), function( keyf, valuef ) { if( $(valuef).attr('src').includes('youtube.com') ){ $(this).parent().addClass('videoWrapper'); } }); }); } else { $.each($('.page-content'), function( key, value ) { $(value).find('iframe').parent().removeClass('videoWrapper'); }); } }); jQuery(window).load(function() { if($('.page-content').length >0 && jQuery(window).width() <= 1001){ $.each($('.page-content'), function( key, value ) { $.each($(value).find('iframe'), function( keyf, valuef ) { if( $(valuef).attr('src').includes('youtube.com') ){ $(this).parent().addClass('videoWrapper'); } }); }); } var holdpost = parseInt(jQuery('#holdpost').val()); var similar_news_ck = jQuery.cookie('similar_news'); var wlist_ref = [ /*"https://www.trbusiness.com/regional-news/europe/vinci-led-joint-venture-cleared-to-buy-lyon/107971", */ "https://www.trbusiness.com/regional-news/international/dufrys-chairman-takes-stake-in-italys-moncler/107962" ]; var curlink = window.location.href; var perlink = window.location.host; var curref = document.referrer; /*console.log(curref + '===' +perlink); console.log(curref.search(perlink)); */ if(curref.search(perlink) === -1) /* External referrer allow */ { if( (holdpost <= 7) && (jQuery.inArray(curlink, wlist_ref) === -1) ) /* 7days older -- whitelist url -- */ { /*if( similar_news_ck == undefined || similar_news_ck == 'nos' ) */ if( similar_news_ck == undefined && similar_news_ck !== 'yos') /* first time allow */ { jQuery.cookie('similar_news','yos',{expires:1, path: '/'}); /* uncomment later*/ jQuery('.newsletter_pop').fadeIn('slow'); } /*var similar_news_ck_af = jQuery.cookie('similar_news'); if(similar_news_ck_af == 'yos') { jQuery('.newsletter_pop').fadeOut(); }*/ } } }); $('.gallerysec').insertBefore(".bottomcontainerBox"); } )(jQuery); </script> <input type='hidden' id='holdpost' value='3300'>

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LTR sells $491m Belgian arm and franchises Relay