Lagardère, a multinational media conglomerate headquartered in the 16th arrondissement of Paris, completed its acquisition of Belgium-based International Duty Free, a travel retail operator, for €250m ($278m). “IDF is special to us at CNP because we have supported its development since 1991. We’re now passing the baton to Lagardère Travel Retail, convinced that they will be a great partner in maintaining IDF’s growth over the long term while preserving its unique DNA as well as its strong commitment to its employees and partners. I’d like to thank the IDF teams wholeheartedly for their amazing work all these years as they built the company up to occupy the leadership position it now enjoys in the Travel Retail market,” Xavier Le Clef, CNP Managing Director and IDF Chairman.