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BELGIUM/FRANCE. Lagardère Travel Retail has signed an agreement to sell its Belgium Distribution subsidiary to bpost group, in a move which sees the company continue its exit from the press distribution and integrated retail business.
Lagardère previously announced its intention to focus on Travel Retail’s growth businesses.
In Belgium, Lagardère Travel Retail directly operates a network of 220 points of sale at train stations and airports, among others, with brands such as Press Shop and Relay. It also distributes newspapers and magazines to some 5,345 points of sale and has built up a network of 735 parcel pick-up and delivery points in Belgium under the Kariboo! brand.
The current Lagardère Travel Retail and bpost chains will retain their specific features and their product lines, the companies said.
Subject to agreement by competition authorities, the parties will sign a franchise agreement for the distribution and operation of Lagardère Group brands, including Relay, Hubiz and So Coffee, in Belgium.
This acquisition applies to 100% of the capital of LS Distribution Benelux and AMP, which posted consolidated turnover of about €440 million in 2014.
