Paradies To Be Acquired by Lagardère Travel Retail

by Katie Lee

Atlanta — Paradies, a leading airport concessionaire in the U.S., has signed an agreement to be acquired by Lagardère Travel Retail, a global leader in travel retail that operates in 150 airports across 30 countries. The closing is expected in the fourth quarter of 2015.

Voted “Best Overall Retailer” by the industry through Airport Revenue News (ARN) for 20 consecutive years, Paradies will combine its operations with the existing North American operations of Lagardère Travel Retail to operate approximately 800 stores and restaurants in 99 airports across the U.S. and Canada. Paradies’ strong presence, particularly in the U.S., is highly complementary with that of Lagardère Travel Retail, which has a stronger presence in Canada and a number of U.S. international airports. Together, the combined company will operate in most of the major North American airports, including all of the top 10: Atlanta, Los Angeles, Chicago, Dallas-Fort Worth, Denver, New York-JFK, San Francisco, Charlotte, Las Vegas and Phoenix.

Following the completion of the transaction, Gregg Paradies will serve as the president and CEO of the newly combined company and will be an investor. Gerry Savaria, current president and CEO for North America of Lagardère Travel Retail, will serve as his deputy.

The transaction marks the culmination of Paradies’ significant growth and continued evolution as the market leader in North America, particularly in the past 5 years with its expansion into the food and beverage segment and its partnership with Freeman Spogli & Co., a leading middle market private equity firm.

Paradies was advised by Barclays and Morgan; Lewis & Bockius provided legal representation.

Paradies operates over 550 retail and dining locations in more than 76 markets across the United States and Canada. Paradies partners with such brands as Lettuce Entertain You Enterprises, CNBC News, Univision, PGA TOUR Shops, Brooks Brothers, PANDORA, Brighton Collectibles, EA SPORTS, Dylan’s Candy Bar and SPANX. The company also operates several popular proprietary brands, including eSavvy, Say Si Bon!, KidZoo and TravelMart. For more information, visit

SOURCE: Paradies 

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