PARADIES
Acquired by
LAGARDERE TRAVEL RETAIL
PARADIES acquired by LAGARDERE TRAVEL RETAIL
Target
PARADIES
Acquirer
LAGARDERE TRAVEL RETAIL
Context
Lagardere acquired 100% of the holding company of Paradies. The sellers were the private equity firm Freeman Spogli & Co and the founding Paradies family. The transaction combined Lagardere's existing North American operations with Paradies to create a new entity generating ~$800 million in sales.
PARADIES, which reported an EBITDA margin of LOGIN in 2015, is valued in this transaction at an EV/EBITDA multiple of LOGIN, representing a LOGIN discount to the 10.9x average currently observed in the Retail & Consumer sector.
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Target
Founded in 1960 and headquartered in Atlanta, Paradies was a leading airport concessionaire in the US. Operating in 76 airports (including major hubs like JFK, LAX, Chicago O'Hare, and Atlanta), the company managed a network of over 550 stores. While originally focused on "News & Gifts," Paradies had successfully diversified into "Specialty Retail" (fashion, accessories) and "Food & Beverage," which are higher-margin segments. For the fiscal year ending June 2015, the company generated $515 million in revenue.
Ent. Value
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Equity Value
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Multiples Analysis
EV / Revenue
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EV / EBITDA
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EV / EBIT
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Historical Financials (EUR)
Other operations with PARADIES
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