Lagardère Group
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|
retail outlets, live entertainment, radio stations, sports club | |
Revenue | €6.93 billion (2022)[1] |
---|---|
€438 million (2022)[1] | |
€161 million (2022)[1] | |
Total assets | €8.98 billion (2022)[1] |
Total equity | €1.03 billon (2022)[1] |
Owners | |
Number of employees | 27,383 (2022)[1] |
Subsidiaries | Lagardère Publishing, Lagardère Travel Retail, Lagardère News, Lagardère Live Entertainment, Lagardère Paris Racing |
Website | www.lagardere.com |
Lagardère S.A. (French pronunciation: [laɡaʁdɛʁ]) is an international group with operations in over 40 countries. Based in the 16th arrondissement of Paris, the group was created in 1992 as Matra, Hachette & Lagardère.
Headed by
The group's business scope also comprises other activities, mainly including Lagardère News (Paris Match, Le Journal du Dimanche, Europe 1, Europe 2, RFM and the Elle brand licence), Lagardère Live Entertainment (production of concerts and shows and venue management) and Lagardère Paris Racing (sports club).
On November 21, 2023, Vivendi completed the purchase of a majority stake (60%) in Lagardère.[3][4][5]
History
Hachette and Matra, the foundation of Lagardère
The starting point for what would become the Lagardère Group was
Created in 1945,
Jean-Luc Lagardère and the birth of the group
In 1963, Jean-Luc Lagardère was appointed Chief Executive Officer of Matra, with 1,450 employees. In 1981, he became head of Hachette. In 1988, the group acquired Grolier Encyclopedias in the USA, its first overseas acquisition. In 1992, after a major year-long restructuring, Matra Hachette and Lagardère group were created. In 1990, Jean-Luc Lagardère turned to television and became head of La Cinq, which had been suffering from financial problems since it began operations in 1986. The network's financial problems would worsen after Lagardère took control, and La Cinq ultimately ceased operations on 12 April 1992 (it would be replaced by France 5 in late 1994).
Arnaud Lagardère and the group's refocus on media
This section needs additional citations for verification. (May 2021) |
In 1994, Hachette Livre launched the first multimedia encyclopedia, Axis. Also in 1994, Matra Hachette Multimedia presented EPSIS, the first image-substitution process for advertising. In 1998, Hachette Multimedia was born of the consolidation of the multimedia division of Hachette Livre and Grolier Interactive (online educational services). A strategic agreement signed in 2000 by Lagardère and Deutsche Telekom to provide Internet service led to the merger of T-Online and Club-Internet.
In 1995, Hachette acquired UCS, Canada's leading newsstand chain,
From a conglomerate to a media-diversified group
With the death of
In 2006, Arnaud Lagardère created Lagardère Sports, a new subsidiary of the Group specializing in sports economics and sporting rights. Lagardère also became the new franchisee of the Croix-Catelan (Bois de Boulogne, Paris) and the Rue Eblé sports and recreation sites, for a twenty-year period. On May 31, 2010, Lagardère Sports changed its name and became Lagardère Unlimited, a new branch of the group specializing in the sport industry and entertainment.[8]
On July 8, 2015, Lagardère Services was renamed Lagardère Travel Retail. On September 15 of that year, agencies of the Lagardère Group announced that they were being renamed under a common corporate brand: Lagardère Sports and Entertainment. This new brand would replace the brand of Lagardère Unlimited as one of the four divisions of the Lagardère Group. In addition, all sports marketing agencies within this division, including Sportfive, World Sport Group, IEC in Sports, Sports Marketing and Management and Lagardère Unlimited Inc., would be unified under a single commercial brand, Lagardère Sports, with all entertainment businesses under the brand Lagardère Live Entertainment.[9]
Seventeen years after the creation of the limited partnership disputed by an American activist, the SCA (the French limited partnership with shares) was confirmed by nearly 80% of shareholders at the Shareholders Meeting on April 27, 2010.[10]
Agreement between Lagardère SCA and Hearst Corporation
On March 28, 2011, Lagardère SCA signed a contract to sell its international magazine business, totaling 102 titles, to
Sale of endurance sports division to WTC
In January 2016, Lagardère sold the endurance sports division to the
Sale of most of the media assets and sports agency
Since the first half of 2018, a plan to sell the Group's media assets (excluding Paris Match, Le Journal du Dimanche, Europe 1, Europe 2, RFM and the Elle brand licence) was underway at Lagardère Active. The Group had already divested a large number of assets, including international radio operations, the main digital assets (including e-Health), and the interest in Marie Claire. In 2019, Lagardère finalised the sale of most of the magazine publishing titles in France,[13][14] the TV businesses,[15] the stake in Mezzo[16] and Disney Hachette Presse.[citation needed]
The Lagardère group finalized the sale of 75% of Lagardère Sports (excluding Lagardère Live Entertainment) to Hamburg-based private equity firm H.I.G. Capital on April 22, 2020.[17]
In May 2020, the Group resisted a demand for the replacement of most of the board members, submitted by Amber Capital, its new largest shareholder.[18] In August, peer French media conglomerate Vivendi raised its stake in the Group to 23.5%, the highest among all shareholders, including Amber (which raised its own by 2% to 20%). It made a pact with the fund in which the two jointly requested four seats, three for Amber and one for Vivendi, on the board.[19]
In November 2020, Lagardère Studios was sold to Mediawan.[20] In July 2021, Lagardère Sports was fully divested by the sale of remaining 25% to H.I.G. Capital.[21]
Recent acquisitions
Lagardère Publishing acquired
Self censorship
In 2022 the Financial Times reported that the Lagardère Group's Octopus Books had censored references in books to issues seen as sensitive in China, including information about Taiwan. One book had an entire section about Taiwan cut. The censorship was implemented to allow Octopus to continue to use low cost Chinese book printers.[38]
Management
Until 30 June 2021, the management structure of Lagardère reflects its status as a
Since the conversion of the company into a joint-stock company with a board of directors on 30 June 2021, Arnaud Lagardère was appointed as chairman and chief executive officer and Pierre Leroy as deputy chief executive officer.[41]
Each of the company's two main divisions has its own
The company is overseen by a board of directors, which has been chaired by Arnaud Lagardère since July 2021. Its other members are Virginie Banet, Valérie Bernis, Laura Carrere, Fatima Fikree, Marie Flavion (director representing employees), Pascal Jouen (director representing employees), Arnaud Lagardère, Véronique Morali, Arnaud de Puyfontaine, René Ricol,[43] Nicolas Sarkozy and Pierre Leroy (board advisor).[44]
Business lines
Lagardère Publishing
Lagardère Publishing creates 17,000 original publications each year and operates predominantly in the three main language groups: English, French and Spanish.
The division also invested in leisure activities adjacent to the world of publishing with the acquisition of companies specialised in mobile games (Neon Play[46] and Brainbow[47] in 2016), board games (Gigamic[48] and Blackrock Games[49] in 2019, La Boîte de Jeu[50] in 2022) and premium stationery (Paperblanks[51] in 2022).
Lagardère Travel Retail
Lagardère Travel Retail is involved in Travel Retail (Travel Essentials, Duty Free & Fashion, and Foodservice). Aelia is a subsidiary of Lagardère that manages 270 duty-free shops in France, the United Kingdom, Poland, Ireland and Spain.[2] In 2013, Aelia had sales of over €1,100 million.[2]
At the end of 2013, Lagardère acquired the Dutch company Gerzon, including Gerzon Schiphol, Gerzon Duty Free and Gerzon Import. Gerzon has a long term concession for Fashion, Leather & Travel and has stores at Amsterdam Schiphol Airport, among them Hermes, Burberry, Victoria's Secret, Ralph Lauren and nine multi brands in Fashion and Leather & Travel. From December 1, 2015, Gerzon would become Lagardère Travel Retail the Netherlands.
In 2015, Lagardère Travel Retail acquired The Paradies Shops in North America, signing the agreement in August[52] and completing the acquisition in October.[53] Paradies and Lagardère Travel Retail in North America combined to become Paradies Lagardère.
In 2018, the division acquired Hojeij Branded Foods (HBF), a food service leader in the travel retail market in North America.[54]
In 2019, Lagardère Travel Retail completed acquisition of International Duty Free (IDF), the travel retail market leader in Belgium, which also has operations in Luxembourg and Kenya.[55]
In November 2022, it was announced Lagardère Travel Retail had acquired the Pfäffikon-headquartered multi-brand international catering company Marché International AG - holding company of Marché Group.[56]
Other activities
Lagardère News: Paris Match, Le Journal du Dimanche, Europe 1, Europe 2, RFM and the Elle brand licence.
Lagardère Live Entertainment: venue operation and management (the Folies Bergère, Casino de Paris, Arkéa Arena, Arena du Pays d'Aix), production of concerts and live shows.
Lagardère Paris Racing: sports club.
Jean-Luc Lagardère Foundation
Since 1989,[57] the Jean-Luc Lagardère Foundation has encouraged and supported creativity and diversity through partnerships in the spheres of culture, solidarity and sport. Each year, the Foundation awards grants to gifted young people with bold, creative projects in the culture and media world.
It has rewarded young film producers like Carole Scotta (founder of Haut et Court movie company), scriptwriters like Phil Ox (who became a producer in France and England), novel writers like Agnes Desarthe, photographers like Emily Buzin and Tiane Doan Na Champassak and journalists like Stephane Edelson (who wrote in 1993 about the economist and banker Muhammad Yunus and the influence of his work on the empowerment of women).
Financial data
Year | 2016 | 2017** | 2018*** | 2019 | 2020 | 2021 | 2022 | ∆ 2022/2021 |
---|---|---|---|---|---|---|---|---|
Net sales | 7,391 | 7,084 | 6,868 | 7,211 | 4,439 | 5,130 | 6,929 | +€1,799m |
Recurring operating profit | 395 | 399 | 385 | 378 | (155) | 249 | 438 | +€189m |
Finance costs, net | (49) | (73) | (57) | (53) | (76) | (64) | (74) | +€10m |
Income tax expense | (69) | 2 | (124) | (55) | 31 | (22) | (33) | +€11m |
Profit (loss) attributable to owners of the parent | 175 | 176 | 177 | (15) | (660) | (101) | 161 | +€262m |
Adjusted profit attributable to owners of the parent* | 238 | 214 | 200 | 200 | (330) | 62 | 265 | +€203m |
(*Excluding non-recurring/non-operating items ) / (**Restated for IFRS 15) / (***Restated for IFRS 16).
Year | 2022 |
---|---|
France | 25 % |
Europe (excl. France) | 35 % |
United States and Canada | 29 % |
Asia-Pacific | 7 % |
Latin America, Middle East and Africa | 4 % |
Lagardère shares are listed at Euronext Paris.
See also
- List of multinational corporations
- List of French companies
References
- ^ a b c d e f "FULL-YEAR 2022 RESULTS" (PDF). Lagardère.
- ^ ISBN 978-1-118-17176-9.
- ^ "French media giant Vivendi finalises takeover of rival Lagardère". Euronews. Retrieved 2023-12-22.
- ^ "Vivendi completes acquisition of Lagardère". exchange4media. Retrieved 2023-12-22.
- ^ "Vivendi completes its transaction with Lagardère". Vivendi. Retrieved 2023-12-22.
- ^ "About Lagardere: History". Lagardere. Retrieved 10 June 2014.
- ProQuest 398859834.
- ^ "Lagardère - Press releases". Lagardere.com. 2010-06-02. Retrieved 2015-07-18.
- ^ Lagardère agencies set rebrand sportindustry.biz, 15/09/15. On September 17, 2015, Lagardère Entertainment, a subsidiary of Lagardère Active, was renamed Lagardère Studios.
- ^ Colchester, Max (April 28, 2010). "Shareholders Support Lagardère Management". The Wall Street Journal.
- ^ "Hearst Leaps to New Level With Deal for Lagardere Magazine Portfolio". adage.com. 31 January 2011. Retrieved 2019-04-02.
- ^ Speed, Dan (January 21, 2016). "Ironman announces acquisition of Lagardère sports' endurance division". Competitor Group, Inc. Retrieved February 14, 2016.
- ^ Burlet, Fleur (2019-02-15). "Lagardère Completes Sale of French Elle to Czech Media Invest". WWD. Retrieved 2020-08-04.
- ^ "Lagardère. Le groupe progresse dans la cession de ses médias". Ouest France. July 27, 2018.
- ^ "M6 rachète le pôle TV de Lagardère pour 215 millions d'euros". Le Figaro. May 24, 2019.
- ^ "Canal+ and Groupe Les Echos – Le Parisien acquire Mezzo". Digital TV Europe. 2019-07-18. Retrieved 2020-08-04.
- ^ "Lagardère to sell 75% of sports agency to H.I.G. Capital in €110m deal - SportsPro Media". www.sportspromedia.com. Retrieved 2020-08-04.
- ^ "Amber Capital: no plans to sell Lagardere stake and it may even raise it". Business Insider. Retrieved 2020-09-15.
- ^ "Vivendi strikes rare pact with Amber on Lagardère". FT. 2020-08-11. Archived from the original on 2022-12-10.
- ^ "Mediawan completes $112m acquisition of France's Lagardere Studios". 2 November 2020.
- ^ "H.I.G. Capital takes full control of Sportfive". SportsPro. 2021-07-27. Retrieved 2022-03-29.
- ^ "Hachette Reaches New Deal With Perseus Books". The New York Times. March 1, 2016.
- ^ "Hachette UK acquires Bookouture". The Bookseller. March 6, 2017.
- ^ "La maison d'édition La Plage rejoint Hachette Livre". Actualitte. July 16, 2018.
- ^ "Hachette Completes Worthy Publishing Purchase". Publishers Weekly. September 17, 2018.
- ^ "Hachette Livre in Negotiations to Acquire Gigamic". icv2.com. Retrieved 2020-08-04.
- ^ "Hachette Acquiring Game Distributor". icv2.com. Retrieved 2020-08-04.
- ^ "Octopus buys indie Short Books in latest Hachette acquisition | The Bookseller". www.thebookseller.com. Retrieved 2020-08-04.
- ^ "Hachette UK Buys Laurence King Publishing".
- ^ "Hachette to Buy Workman for $240 Million as Publishing Continues Consolidation". The New York Times.
- ^ "Hachette UK acquires Welbeck Publishing Group".
- ^ "Lagardère Travel Retail completes acquisition of Paradies". Moodie Davitt Report. October 23, 2015.
- ^ "Lagardere agrees to buy U.S. airport food group HBF for $330 million". Reuters. August 15, 2018.
- ^ "Lagardère Travel Retail completes acquisition of Belgian travel retailer International Duty Free". The Moodie Davitt Report. 2019-09-19. Retrieved 2020-08-04.
- ^ "Lagardère Travel Retail to acquire control of HWH portfolio at Dubai International and create powerful F&B force". The Moodie Davitt Report. February 18, 2022.
- ^ "Lagardère Travel Retail acquires Marché International consolidating foodservice business". DFNI Frontier. November 16, 2022.
- ^ Ireland, Kapila (2023-09-07). "Lagardère Travel Retail to acquire US F&B operator Tastes on the Fly". DFNI. Retrieved 2023-09-07.
- ^ Telling, Oliver. "British publishers censor books for western readers to appease China". ft.com. Financial Times. Archived from the original on 2022-12-10. Retrieved 16 March 2022.
- ^ "Lagardère – Lagardere.com – Group – Corporate Governance". Lagardere.com. Retrieved 2015-07-18.
- ^ "2017 Annual Report" (PDF). Lagardère. Retrieved 3 May 2018.
- ^ "Lagardère Group set to become joint stock company amid restructure". The Moodie Davitt Report. 2021-04-28. Retrieved 2022-01-10.
- ^ Nawotka, Ed. "Nourry Out at Hachette Livre, New CEO Appointed". PublishersWeekly.com. Retrieved 2022-01-10.
- ^ MarketScreener. "Lagardere S A : Results of the 2022 Annual Ordinary and Extraordinary General Meeting of Lagardère SA | MarketScreener". marketscreener.com. Retrieved 2022-06-08.
- ^ "Lagardère – Conseil d'Administration". lagardere.com (in French). Retrieved 2022-01-10.
- ^ "Global Publishing Leaders 2017: Hachette Livre". www.publishersweekly.com. Retrieved 2020-08-05.
- ^ "Hachette buys mobile game company Neon Play | The Bookseller". www.thebookseller.com. Retrieved 2020-08-05.
- ^ "Brain-training app Peak sells majority stake to French publisher Hachette". TechCrunch. Retrieved 2020-08-05.
- ^ "Hachette Livre in Negotiations to Acquire Gigamic". icv2.com. Retrieved 2020-08-05.
- ^ "Hachette Acquiring Game Distributor". icv2.com. Retrieved 2020-08-05.
- ^ "Lagardere S A : Hachette Livre announces an agreement to acquire a majority stake in La Boîte de Jeu". Market Screener. February 23, 2022.
- ^ "In London, Hachette UK Announces Its Acquisition of Paperblanks". January 18, 2022.
- ^ "Lagardère Travel Retail signs an agreement for the acquisition of Paradies, an airport travel retail leader in North America," Press Release, Lagarère.com, 11 August 2015
- ^ "Completion of the acquisition of Paradies," Press Release, ParadiesLagardere.com, 22 October 2015
- ^ "Lagardère Travel Retail Closed the Acquisition of Hojeij Branded Foods (HBF), a Leading Foodservice Travel Operator in North America". www.businesswire.com. 2018-11-20. Retrieved 2020-08-05.
- ^ "Lagardère Travel Retail Completes the Acquisition of International Duty Free (IDF), Belgium's Leading Travel Retail Operator". www.businesswire.com. 2019-09-19. Retrieved 2020-08-05.
- ^ Sayles, Jill (2022-11-16). "Lagardère Travel Retail acquires Marché International consolidating foodservice business". DFNI. Retrieved 2022-11-16.
- ^ "Lagardère - Press releases". Lagardere.com. 2009-12-01. Retrieved 2015-07-18.
- ^ "2022 Universal Registration Document" (PDF).
- ^ "Lagardère - Universal registration document 2022". www.lagardere.com.