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Vinci acquires majority shareholding in Portuguese airport retailer

French airport operator Vinci Airports has completed the acquisition of a 51% stake in Portuguese airport retailer Lojas Francas Portugal (LFP).

LFP currently operates 31 retail outlets with a total area of more than 80,000ft² in seven of the 10 Portuguese airports managed by Vinci, including Lisbon Portela Airport. The company employs around 500 people and generated revenue of approximately €200m (US$230m) in 2016. The remaining 49% of shares are held by Dufry Group.

Traditional duty-free shops (perfumes and cosmetics, tobacco, alcohol, food products) account for the majority of LFP’s activity. It also sells fashion products, jewelry and accessories in dedicated stores under the Attitude brand, together with international brands in exclusive boutiques.

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 optimized shopping experience.”

Written by Kirstie Pickering

July 12, 2017


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