Paris-headquartered Lagardère Travel Retail has entered into an agreement to acquire 100% of the shares in multi-brand international catering firm Marché International AG.
The travel retailer says the transaction of the holding company of Switzerland-based Marché Group expects to complete by the first quarter of 2023.
Lagardère Travel Retail will take control of Marché’s restaurant network across six countries: Germany, Austria, Croatia, Slovenia, the Czech Republic and Singapore.
In a statement, the travel retailer says the acquisition will ‘considerably strengthen its network of foodservice operations’ in Europe – Germany in particular – while simultaneously affirming its commitment to growing travel retail and dining activities to serve travellers and landlords alike.
It will open up new markets such as the aforementioned Slovenia, while adding foodservice options in Singapore, where Lagardère already operates travel essentials and duty free and fashion shops.
Marché operates in travel and leisure hotspots such as airports, railways, motorway stations, downtown malls and zoos.
Its brands include Palavrion, Cindy’s diner and the White Monkey.
Commenting on this announcement, Dag Rasmussen, Chairman & CEO, Lagardère Travel Retail, said: “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 travellers, 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 travellers 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.”