PARIS: Lagardère announced Lagardère Travel Retail signed an agreement for the acquisition of a majority share in Creative Table Holdings ltd, based in the United Arab Emirates.
The price of the operation was set at €74 million. Lagardère Travel Retail will have the control of Creative Table Holdings.
The company has for many years successfully developed a catering offer at Dubai airport as well as an award winning portfolio of Food & Beverages brands (local and healthy concepts) that complements that of Lagardère Travel Retail.
This acquisition will allow Lagardère Travel Retail to benefit from a foothold in one of the most renowned airline hubs in the world and opens up new development prospects for it at Dubai airport.
The completion of this acquisition, which remains subject to the approval of the competent competition authorities and other customary conditions, should take place during the first quarter of 2022.
Created in 1992, Lagardère is an international group with operations in more than 40 countries worldwide. It employs some 27,000 people and generated revenue of €5,130 million in 2021.
The Group is structured around two priority divisions: Lagardère Publishing (Book and e-Publishing, Board Games and Mobile Games) and Lagardère Travel Retail (Travel Essentials, Duty Free & Fashion, Foodservice).
The Group’s operating assets also include Lagardère News and Lagardère Live Entertainment. Lagardère shares are listed on Euronext Paris.