Lagardère: takes over Hojeij Branded Foods

(CercleFinance.com) - Lagardere Travel retail today announces the signature of an agreement on the acquisition of Hojeij Branded foods (HBF), which will join its North American division Paradies Lagardère.

The acquisition, payable in cash, will cost 330 million dollars.

"Combining the activities of Lagardère Travel Retail and HBF would create a USD 1.1 billion player, the third largest player in the North American Travel Retail and Foodservice industry," the media group said.

The finalisation of this transaction - expected in the fourth quarter of 2018 - is subject to a number of usual conditions, including obtaining regulatory authorisations and the agreement from certain third parties.



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