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Lagardère Travel Retail moves for catering firm Marché International

By Luke Barras-hill | Wednesday, 16 November 2022 10:39

The travel retailer says the transaction of the holding company of Switzerland-based Marché Group expects to complete by the first quarter of 2023.

Lagardère Travel Retail will take control of Marché’s restaurant network across six countries: Germany, Austria, Croatia, Slovenia, the Czech Republic and Singapore.

In a statement, the travel retailer says the acquisition will ‘considerably strengthen its network of foodservice operations’ in Europe – Germany in particular – while simultaneously affirming its commitment to growing travel retail and dining activities to serve travellers and landlords alike.

It will open up new markets such as the aforementioned Slovenia, while adding foodservice options in Singapore, where Lagardère already operates travel essentials and duty free and fashion shops.

Marché operates in travel and leisure hotspots such as airports, railways, motorway stations, downtown malls and zoos.

Its brands include Palavrion, Cindy’s diner and the White Monkey.

Among Marché’s portfolio is its eponymous brand, Palavrion (pictured), Cindy’s diner and the White Monkey.

Commenting on this announcement, Dag Rasmussen, Chairman & CEO, Lagardère Travel Retail, said: “We are very happy to be integrating Marché’s network of innovative and creative concepts to further consolidate our global F&B expertise in Europe and Asia. Our two companies share a commitment to deliver world-class dining experiences to travellers, with a focus on the highest possible standards of quality and customer service.

“Drinking and dining is an essential part of the traveler’s journey which is why we have steadily invested into our foodservice growth and expertise over the past few years. In today’s environment, landlords and travellers expect we approach their needs holistically. We firmly believe that with our long-standing focus on strategically growing Travel Essentials, Duty Free and Foodservice, we are uniquely positioned to make the most of changing market dynamics and efficiently achieve sales growth.”

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Willkie Advises Lagardère Travel Retail on Acquisition of Marché International

November 21, 2022

On November 16, Willkie client Lagardère Travel Retail announced that it reached an agreement to acquire Marché International AG, a multi-brand international restaurant company. Lagardère Travel Retail and Carlton Holding have signed an agreement under which Lagardère Travel Retail will acquire 100% of the shares of Marché International AG, the Swiss-based holding company of the Marché Group. As a result of the transaction, which is expected to be completed by the first quarter of 2023, Lagardère Travel Retail will acquire Marché's restaurant network in six countries: Austria, Croatia, Czech Republic, Germany, Slovenia and Singapore. Marché is an established international catering company operating in travel and leisure venues, including airports, train and motorway stations, zoos and shopping centers. With this transaction, Lagardère Travel Retail significantly strengthens its catering operations and confirms its long-standing strategic ambition to expand in all business segments to cover the needs of lessors and travelers. The acquisition of Marché, an established and widely recognized brand worldwide, also strengthens Lagardère Travel Retail’s portfolio of in-house brands.

The Willkie team was led by partner Grégoire Finance and included partners Faustine Viala, Matthias Schudlo, Anne Kleffmann and Jens-Olrik Murach.

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Lagardère Travel Retail closes Marché International acquisition

Home » Lagardère Travel Retail closes Marché International acquisition

European travel retailers are increasingly focusing on expanding their food offerings, with companies like Lagardère Travel Retail leading the charge. Lagardère recently acquired Marché International, a global catering company, enhancing its capability to offer diverse food services in travel environments. This acquisition is part of a broader trend among travel retailers to meet the growing demand for quality food options among travelers.

About Lagardère Travel Retail 

Lagardère Travel Retail is a prominent player in the global travel retail industry, specializing in the operation of retail outlets in airports, railway stations, and other travel-related locations. The company offers a diverse range of services including duty-free shopping, luxury retail, and food & beverage operations. Known for its strategic approach to enhancing the travel experience, Lagardère Travel Retail operates in numerous countries, continually expanding its reach and influence in the sector. lagardere.com

About Marché International

Marché International is a global catering company known for its innovative approach to food services, particularly in travel and leisure environments. The company specializes in creating fresh, high-quality culinary experiences, offering a range of dining options that cater to diverse tastes and preferences. With a focus on sustainability and customer satisfaction, Marché International operates in several countries, enhancing dining experiences for travelers and local patrons alike. marche-int.com

For more information, you can read the full articles on Forbes and on Lagardère’s website .

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February 28 2024  |  Retailers

Lagardère Travel Retail hails “excellent performance” in 2023

By GTR Magazine Editor

The Lagardère Group has noted an “exceptional” year in 2023, with revenue topping the €8 billion mark and recurring EBIT at a record €520 million.

Lagardère travel Retail turned in an “excellent performance”, with revenue up 23.4%, driven by business in EMEA and strong network expansion. The group’s report notes a recurring EBIT at “an exceptional” €245 million, with key acquisitions including Marché International and Tastes on the Fly.

Arnaud Lagardère, Chairman and Chief Executive Officer of Lagardère, commented, “In 2023, we achieved performance levels not seen for 15 years, thanks to the talent and commitment of the Lagardère group’s teams.

“Our two main locomotives are running at full speed and our growth validates the development strategy that we have patiently and meticulously built over these past few years. At Lagardère Publishing, ongoing vigorous trading helped maintain elevated revenue and profitability, following on from its performance in 2022 and despite a softer publishing market. These results were driven by the success of bestselling titles in France and the United Kingdom, including the latest Asterix album.

“Lagardère Travel Retail took full advantage of the growth in domestic, regional and international air traffic across its various locations, particularly in the EMEA region. All of the division’s key performance indicators improved, with revenue exceeding €5 billion and recurring EBIT up by €109 million year on year.”

Key figures

In 2023, Group revenue totalled €8,081 million, up 14.0% year on year on a like-for-like basis.

Lagardère Travel Retail revenue came in at €5,018 million for the full year 2023, up 27.8% as reported and up 23.4% like for like. The difference between reported and like-for-like data was attributable to a €42 million negative currency effect, mainly resulting from the depreciation of the US dollar (€28 million negative impact) and Chinese yuan (€15 million negative impact), and a €183 million positive scope effect relating to the acquisition of Costa Coffee Poland (€36 million), Marché International (€149 million) and Tastes on the Fly (€27 million).

In France, trading for the division continued to recover, with revenue up 15.9% on the back of robust sales at regional airports. The EMEA region (excluding France) reported 26.6% growth, driven by the increase in international tourist traffic, as well as by excellent performances in Italy and Poland and network expansion.

The Americas region continued to grow, with revenue advancing 16.3% against an already high comparison basis, benefiting from a favorable local economic environment (particularly in the US), and the strong rebound in international traffic in Canada. Asia-Pacific revenue jumped 52.1% from a low 2022 comparison basis in the region following the delayed reopening of borders in China. Lagardère Travel Retail recurring EBIT hit an all-time high of €245 million in 2023, a rise of €109 million versus 2022 with all geographic areas contributing to the growth effort. This performance was attributable to revenue growth combined with disciplined margin control amid high inflation, government aid in the US and the efficiency gains brought about by the ramp-up of the LEaP operational efficiency plan.

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Lagardère Travel Retail sees strong Q1 revenue performance

By Jill Sayles in Global , Latest News , Lead Stories , Retail News April 25, 2024 0

Lagardère Travel Retail once again achieved double-digit revenue growth, which was the main driver of the lift in group revenue

Lagardère Travel Retail first-quarter (Q1) 2024 revenue totalled €1,242m, up 18.7% as reported and up 13.6% like for like.

The difference between reported and like-for-like data is attributable to a €53m positive scope effect, mainly due to the acquisitions of Tastes on the Fly (€37m), Marché International (€9m) and Costa Coffee in Poland (€7m), as well as a €6m negative currency effect mainly related to the depreciation of the US dollar and Chinese yuan.

With global air traffic having returned to normal levels, Lagardère Travel Retail once again achieved double-digit revenue growth.

In France , business for the division grew by 16.2%. The EMEA region (excluding France) saw a strong 22.5% increase in revenue, driven by all the countries in the region on the back of the return of air traffic to pre-Covid levels, and led by the Middle East (up 109.9%), Italy (up 23.8%) and Romania (up 29.0%). Revenue in the Americas rose by 7.8%, thanks to dynamic growth in the United States (up 6.4%) and Canada (up 14.5%). The AsiaPacific region recorded a decline of 15.5%, which was particularly marked in North Asia (down 20.3%) due to the economic slowdown in China and consequent contraction in Chinese consumer spending.

Lagardère reports group revenue totalled €1,883m for the first three months of 2024, up 12.4% as reported and up 8.9% like for like.

The difference between reported and like-for-like data is attributable to a €60 million positive scope effect, mainly due to the acquisition by Lagardère Travel Retail of Tastes on the Fly (United States), Marché International (Germany) and Costa Coffee (Poland), as well as a €5m negative currency effect mainly related to the depreciation of the US dollar and Chinese yuan.

Lagardère Publishing continued a robust level of activity (up 0.8%) due to growth in the United States and United Kingdom. Form Other Activities , there were stable activity levels (up 0.1%) driven by strong attendance in entertainment venues.

Lagardère SA Chairman and Chief Executive Officer, Arnaud Lagardère said: “In the first quarter of 2024, the Lagardère group recorded growth of 8.9%, illustrating the solid performance of our divisions at the start of the year.

“With global air traffic having returned to pre-pandemic levels, Lagardère Travel Retail delivered an increase in revenue in the majority of its operating regions, confirming its growth model.

“At the same time and in a softer market, Lagardère Publishing is maintaining record levels of activity, confirming the strength of its strategic model, thanks in particular to the success of bestsellers in the United Kingdom and the United States.

“Lastly, Other Activities continue to be driven by the momentum of our entertainment venues and a revival in audience figures for Europe.”

Tagged with: Lagardère group Lagardère Travel Retail Marché International

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Lagardère Chairman and Chief Executive Officer Arnaud Lagardère steps down while contesting indictment

FRANCE. Lagardère SA today revealed that its Chairman and Chief Executive Officer Arnaud Lagardère is to contest an indictment against him issued by a French court on Monday. Lagardère SA is the parent company of Lagardère Travel Retail.

The statement said Arnaud Lagardère had informed Lagardère SA of the indictment, against which he will appeal.

“This indictment essentially concerns facts relating to personal companies wholly owned by Arnaud Lagardère and not involving any Lagardère group companies,” the company said.

“As regards Lagardère SA, the indictment relates solely to facts dating from 2018 and 2019, qualified as vote buying, abuse of power and dissemination of false or misleading information, which Arnaud Lagardère firmly disputes.

“In the context of his indictment, Arnaud Lagardère has been provisionally banned from holding executive office, a measure which he is contesting and against which he intends to appeal, but which nevertheless will oblige him to resign his executive offices within the Group, despite the appeal.

“The directors wish to reiterate that Arnaud Lagardère is presumed innocent, and that an indictment in no way prejudges the outcome of the proceedings.”

The Lagardère SA board met later in the day to decide on provisional arrangements and ensure proper governance in the period pending Arnaud Lagardère returning to his management role.

Acting on the recommendation of the Appointments, Remuneration and CSR Committee, the Board of Directors unanimously decided to name Jean-Christophe Thiery as a director and to appoint him Chairman and Chief Executive Officer of Lagardère SA.

Note: Lagardère is an international group with operations in more than 40 countries worldwide. It employs some 31,300 people and generated revenue of €8,081 million in 2023.

The Group focuses on three divisions: Lagardère Publishing (Books, E-Books, Partworks, Stationery, 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, and the Elle brand licence). ✈

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Lagardère CEO to Resign After Being Charged With Embezzlement

(Bloomberg) -- Arnaud Lagardère, the French business scion who heads a publishing group now controlled by Vivendi SE, was charged with alleged embezzlement and will resign as chief executive officer of Lagardère SA.

The charges against the 63-year-old executive also include vote buying, abuse of power and breach of trust, disseminating false or misleading information and failure to publish accounts, according to a person familiar with the matter. He has been placed under judicial supervision, banned from holding executive roles and needs to post a bond of €200,000 ($214,000), said the person, who asked not to be named discussing a legal case.

Lagardère, who is chairman and CEO of Lagardère SA, will “resign his executive offices within the group,” the listed company said in a statement Tuesday, adding that directors will meet soon to consider governance. He “firmly disputes” the charges and plans to contest and appeal the ban on his holding executive roles.

“This indictment essentially concerns facts relating to personal companies wholly owned by Arnaud Lagardère and not involving any Lagardère group companies,” the company said. “As regards Lagardère SA, the indictment relates solely to facts dating from 2018 and 2019.”

Lagardère SA shares were 4.2% higher at 2:00 p.m. in Paris trading. 

The businessman’s attorney, Sebastien Schapira, declined to comment, while Vivendi, which controls Lagardère SA, reiterated on Monday its “support to the Lagardère group.”

The charges come after the prominent heir was questioned on Monday by a Paris judge. French daily Le Monde reported that he’s suspected of using around €80 million in company funds for personal expenses such as home renovations and private jet flights, as well as paying off debt related to inheritance. According to the newspaper, he’s also alleged to have unlawfully secured the support of Qatari shareholders during a 2018 corporate battle with Amber Capital. 

Lagardère’s legal woes are a dramatic twist for the businessman often glossing the pages of gossip magazines and cited in France as being at the center of one of the highest profile succession debacles in the nation’s corporate history. 

His father, Jean-Luc Lagardère, founded a French industrial and media giant whose influence reached deep into the country’s military and political establishment. After his sudden death in 2003, Arnaud took the helm and presided over the once sprawling conglomerate’s steady demise.

The son jettisoned much of the business to focus on publishing and travel retail and fended off takeover attempts that included a tussle between rival French billionaires Vincent Bollore and Bernard Arnault. The former prevailed through a plan to buy out the stake held by Amber Capital, which had attempted to shake up the Lagardère company.

In 2021, just as Vivendi was sealing the deal with Amber, French financial police raided Lagardère’s Paris headquarters searching for evidence of abuse of power, presentation of inaccurate accounts, misuse of corporate assets and vote buying.

The investigation began on April 30 of that year following a complaint from Amber Capital and an alert from France’s stock market regulator Autorité des Marchés Financiers, the justice ministry source said. 

Lagardère retains a stake of around 11% in Lagardère SA, which had revenue of €8.1 billion last fiscal year and paid Arnaud Lagardère €3.5 million. At the end of December, Vivendi had a stake of 59.8%, Qatar Holding LLC 11.5% and Arnault’s Financiere Agache had nearly 8%. 

Lagardère SA’s holdings include the Hachette imprint, Le Journal du Dimanche newspaper, Europe 1 radio and the Relay travel retail chain. Luxury giant LVMH, controlled by Arnault, is in talks to buy French glossy magazine Paris Match from Lagardère.

Read more: LVMH in Exclusive Talks With Lagardère for Paris Match Magazine

--With assistance from Benoit Berthelot.

(Updates with shares in fifth paragraph, details of probe from seventh paragraph.)

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