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NEWS Last modified on July 20, 2017

VINCI strengthens its airport business with acquisition of Portuguese retailer

VINCI Airports has finalised the acquisition of a 51% stake in Portuguese airport retail leader Lojas Francas Portugal (LFP) from TAG GER, a subsidiary of national flag carrier, TAP.

LFP currently operates 31 retail outlets across a total area of 7,500sqm at seven of the ten Portuguese airports managed by VINCI Airports.

Founded in 1994, LFP employs around 500 people and generated revenue of approximately €200 million in 2016.

The remaining 49% of its capital is held by Dufry Group, world leader in airport retail operatimng more than 2,000 outlets in 60 countries across the globe.

Traditional duty-free shops (perfumes and cosmetics, tobacco, alcohol, food products) account for the lion's share of LFP's activity.

It also sells fashion products, jewellery and accessories in dedicated stores under the Attitude brand, together with international brand products in exclusive boutiques under licensing contracts.

According to VINCI Airports, the deal will allow it to strengthen its expertise in airport retail, which accounted for 25% of its consolidated revenue in 2016.

Nicolas Notebaert, CEO of VINCI Concessions and chairman of VINCI Airports, said: "With this acquisition, VINCI Airports reaffirms its ambition to drive creation of the new generation of airport retail.

"Backed by our expertise as airport operator, we are keen to place our knowledge of the customer pathway at the service of an optimised shopping experience."

 

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