Bernard Arnault, the richest man in Europe and the main shareholder of LVMH, has recently made a significant investment by acquiring a one-quarter stake in Arnaud Lagardère’s holding company, Lagardère Capital & Management (“LCM”). This move is seen as a demonstration of support for his fellow French billionaire’s family and a strategic partnership to benefit Lagardère SCA and its various business ventures.
The collaboration between the Arnault and Lagardère families is based on a long-standing relationship and mutual respect for each other’s achievements. Arnault’s acquisition of a significant portion of LCM’s share capital, combined with his existing ownership of Lagardère SCA, underscores his commitment to the partnership and his confidence in the future success of the joint venture.
The decision to invest in Lagardère Group comes on the heels of an attempt by activist fund Amber Capital to overhaul the company’s supervisory board. Lagardère Group, a multimedia conglomerate with interests in publications, radio stations, and duty-free stores, presents a diverse portfolio that aligns well with Arnault’s interests and expertise in the luxury industry.
In a statement, Arnault expressed his enthusiasm for the partnership and his admiration for the legacy built by Jean-Luc Lagardère, Arnaud’s father. Lagardère, in turn, welcomed the collaboration with Groupe Arnault, emphasizing their shared values of family entrepreneurship and dedication to long-term success.
The partnership agreement between the two families is pending approval by the French financial markets authority, but both parties are confident in the synergies that can be achieved through their combined efforts. With Groupe Arnault’s track record of success in multiple industries and Lagardère Group’s established presence in the media and retail sectors, the stage is set for a fruitful and enduring partnership that will benefit both companies and their stakeholders.
For more information on Bernard Arnault and Arnaud Lagardère’s partnership, visit Forbes and CNBC.
