Gateway has acquired LS Travel newsstand assets in 34 urban retail stores in Canada. The deal includes Great Canadian News Co., Piccadilly Place and Maison de la Presse operations.

"This transaction represents an important and historical step in our company's transformation as we move forward with the deployment of our strategy, in support of our group's ambitions to reinforce its position as a global leader in the world of travel retail," said Gerry Savaria, LS president and chief executive officer, in a release.

LS looks to focus on its network of travel retail stores in Canada, the U.S., and the Caribbean islands. Along with airport and train station locations, the company continues to operate resort stores in Banff, Nigara Falls and Niagara-on-the-Lake.

The acquisition agreement is subject to closing conditions.