Postal operator bpost has reached an agreement for the acquisition of the Belgian activities of retailer Lagardère Travel Retail.
The acquisition will enable bpost to improve its convenience and proximity services to its customers as part of its growth and diversification strategy. The deal is subject to the agreement of the competition authorities.
The post has been pursuing a growth strategy based on diversification into new activities for some time and identified convenience and proximity retail as a sector with attractive growth potential.
Lagardère Travel Retail is active in proximity retail locations across Belgium including train stations and airports. The post operates a network of 220 points of sale with brands such as Press Shop and Relay. Lagardère 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.
Koen Van Gerven, CEO of bpost, said, “This acquisition will enable bpost to truly diversify its activities in a profitable growth business responding to the new customer needs of having more proximity and convenience. It also enables us to face up to the intense competition on the Belgian parcels market.”
February 10, 2016
