Tue, 01 Mar 2022 | BUSINESS SALE
The UK’s largest independent bookseller Blackwell’s has been acquired by Waterstones for an undisclosed sum that is reported to be in the low single-digit millions range. The acquisition by Waterstones, which is owned by US hedge fund Elliott Investment Management, will bring Blackwell’s into the same group as US bookselling giant Barnes & Noble, which was purchased by the hedge fund in 2019.
The deal represents a further contraction of the book-selling industry, which has seen a high degree of consolidation in the UK and abroad over recent years as physical booksellers struggle to keep up with e-commerce brands such as Amazon.
Blackwell’s, which trades online and has 18 physical bookshops around the country has been a family-run business since it was founded over 140 years ago. Prior to the sale, the company planned to ââput the business into employee ownership, but this plan ultimately fell through. Post-acquisition Blackwell’s will continue to trade under its own brand.
Toby Blackwell, Blackwell’s outgoing owner and president, added: "After 143 years of family ownership, finding a new home for our business and our wonderful booksellers, has been an extraordinary challenge. Waterstones have demonstrated in their acquisition of Foyles most recently, that they understand the advantages and benefits of holding diverse iconic bookselling brands in their portfolio.
Blackwell's CEO David Prescot added that the company's new owner had pledged to invest in Blackwell's and its growing e-commerce business.
Waterstones, which also bought Foyles in September 2018, currently has 291 book shops across the UK, Ireland, Brussels and Amsterdam.
“Find businesses for sale here.”
“If you are looking for an exit, we can help!”
An opportunity has arisen to acquire a European supermarket situated in a parade, excellent main road trading position, residential, office, and commercial area.
LEASEHOLD
Turnover of £17.75m with EBITDA of £1.9m. Gross margin in FY21 and FY22 consistently at over 20%. Has strong relationships with premium brands who are responsible shipping to the UK, insulting the company from the costs.
Supplies a variety of bathroom and spa items, including showers, whirlpool baths and saunas. The majority of these have been designed by the company. Sells a wealth of own-brand products, all manufactured in accordance with CE mark regulations. Cater...
LEASEHOLD
|
27
|
|
May
|
Fragrances retailer Bodycare exploring potential sale amid high street decline | BUSINESS SALE
High street fragrances retailer Bodycare has reportedly enga...
|
26
|
|
May
|
DCJ Group targeting more acquisitions after SM Commercial takeover | BUSINESS SALE
Insurance and risk management firm DCJ Group, a part of Glob...
|
25
|
|
May
|
Can pre-pack administrations still play a central part in restructuring UK businesses? | BUSINESS NEWS
Despite proving a popular option when it comes to business r...
Sign up to receive our acquisition alert emails to get your FREE guide
|
30
|
|
Oct
|
Waterstones considers 2018 sale | BUSINESS SALE
The high street bookselling giant Waterstones could be putti...
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources