October 1, 2012

LS Travel Retail completes acquistion of ADR Retail business

Duty free division of Lagardere Services, LS Travel Retail, has completed the acquistion of ADR Retail.

By admin-demo

Duty free division of Lagardere Services, LS Travel Retail, has completed the acquistion of ADR Retail.

The business acquired has a network eight duty free / duty paid stores in Rome airports which are specialised in liquor, tobacco, perfumes and cosmetics, gourmet food and souvenirs.

ADR Retail is owned by Aeroporti di Roma, developing and managing the direct retail activities – Duty Free and Duty Paid shops at the airports of Rome Fiumicino and Rome Ciampino.

Following the acquisition, ADR Retail will be rebranded as LS travel retail ROMA on 1 November 2012 with all stores to rebranded Aelia Duty Free by 2013.

The retail space operated by LS Travel Retail Roma with this acqusition will grow by 50% to 4,800m² next year.

LS Travel Retail Roma managing director Séverine Lanthier said, "The quality of the teams already in situ, the increase of the surface areas that will soon be generated, as well as the know-how contribution of LS Travel Retail, together with the multiple attractions of the Aelia Duty Free concept, will enable us to successfully meet the challenge which is being offered to us."

Aeroporti di Roma CEO Lorenzo Lo Presti added, "This deal is a key step towards the achievement of AdR’s development targets and allows the company to free resources so that it can focus all its efforts and attention on the ambitious investment plan amounting to €12.1bn [$15.56bn] until 2044, of which €2.5bn [$3.2bn] will be invested in the next ten years."