Lagardère Travel Retail acquires Marché and strengthens foodservice network
Lagardère Travel Retail has announced it has entered into an agreement to acquire Marché, the multi-brand international catering company. With this transaction, the retailer will considerably strengthens its network of foodservice operations and confirms its long-standing strategic ambition to grow across all activity segments in travel retail and dining to holistically cover landlord and traveler needs. It also reinforces its portfolio of internal brands, Marché being a long-standing and highly recognized brand globally.
Lagardère Travel Retail will acquire 100% of the shares in Marché International AG, the holding company of the Marché group, headquartered in Switzerland. As a result of the transaction, which is expected to be completed by Q1 2023, Lagardère Travel Retail will take over the restaurant network of Marché in six countries: Germany, Austria, Croatia, Slovenia, the Czech Republic and Singapore.
Marché is an international food services provider that operates in travel and leisure locations including airports, railway and motorway stations, zoos and downtown malls. The company’s diverse portfolio of brands and concepts most notably includes the “Marché” brand, Palavrion, Cindy’s diner and the White Monkey, and covers the full range of customer needs and budgets.
Characterized by the radical freshness and quality of its food offering, Marché’s operations will be a strong addition to Lagardère Travel Retail’s portfolio of foodservice operations globally. It represents an opportunity to considerably strengthen Lagardère Travel Retail Foodservice European network, particularly in German. It will also enable Lagardère Travel Retail to diversify its operations in Singapore by adding foodservice to existing travel essentials and duty free & fashion stores. With this transaction, Lagardère Travel Retail expands its geographical footprint to Slovenia.
"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 travelers, 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 travelers 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," comments Dag Rasmussen, Chairman & CEO at Lagardère Travel Retail.
In 2019, the foodservice business achieved over one billion euro in sales, doubling its turnover over the course of just three years, and is widely recognized by the industry, winning several awards every year.