News

19 September 2019

Lagardère Travel Retail completes acquisition of International Duty Free

Lagardère Travel Retail has completed the acquisition of International Duty Free (IDF), Belgium’s leading Travel Retail operator also present in Luxembourg and Kenya, bringing the global retailer's annual revenue to a total of €5.3 billion[1].

The move to acquire IDF, which also has a presence in Luxembourg and Kenya, was first announced on July 25th. It confirms Lagardère Travel Retail’s position as the world’s third-largest operator of Duty Free airport points of sale and as the European leader in Travel Retail.

It also enables Lagardère Travel Retail to extend its presence to an additional leading European Hub, Brussels, with high-quality operations, while consolidating its positions in Luxembourg and in Africa with entry into Kenya. Lagardère Travel Retail will also be able to leverage IDF’s experience in the fast‑growing Belgian premium chocolate segment to strengthen its operations in this market at the international level.

For more information read the press release of the Lagardère group

 

[1] Based on 100% of 2018 revenue, including the pro forma contribution of HBF on a full-year basis, which would translate into consolidated pro forma revenue of €4.1 billion.

IDF Duty Free stores
IDF Belgain Chocolate House
IDF