In finalizing the deal, bpost takes a major step in its growth strategy within the proximity and convenience sector.
To this end, bpost undertakes to expand the activities of Lagardère Travel Retail by opening new points of sale, renovating existing ones, diversifying the product and service range for its customers and enlarging the kariboo! pick-up point network to offer customers a wider range of parcel services and delivery options.
bpost also wants to be a reliable long-term partner within the press industry and will continue to provide a high-quality press distribution service.
As part of the deal, bpost and Lagardère Travel Retail have signed a franchise agreement to operate and develop the international brands of Lagardère Travel Retail, including Relay, hubiz, Hello!, So! Coffee and Hub convenience.
LS Distribution Benelux and Lagardère Services Travel Retail Benelux will change their name to Ubiway and Ubiway Retail respectively. The commercial entities such as AMP, the Press Shop/Relay network, the kariboo! pick-up points and the subsidiaries Alvadis and Burnonville will continue to operate under their existing name.
For the year 2015 the two acquired companies generated consolidated sales of EUR 431m and normalized EBITDA of EUR 14m on a combined basis. The acquisition of both entities will be fully consolidated in bpost's accounts as of December 1, 2016.
After a transitional period of a couple of months, these entities will come under the leadership of a new CEO, Nicolas Meire, who is currently Mail Director for the North region at bpost.
More information (not for publication)
Baudouin de Hepcée T. +32 2 276 22 28 (Press and Investors)
Barbara Van Speybroeck T. +32 476 51 79 29 (Press only)
Saskia Dheedene T. +32 2 276 76 43 (Investors only)