Fri, 09 Jul 2021 | BUSINESS SALE
Swindon-headquartered retailer WHSmith has acquired 18 stores, 17 of which are former Dixons Travel stores, as it plans to bring its US InMotion brand to the UK. The acquisition includes many stores in major UK airports, as well as some train stations.
Dixons Carphone announced that it would close its 35 Dixons Travel outlets in April, following the devastating impact of COVID-19 on travel as well as the end of duty-free shopping in the UK. The closures impacted around 400 staff, 200 of which WHSmith says it will now take on.
Dixons’ decision to close the stores reflected an apparent pessimism on the company’s part about the return of travel to pre-pandemic levels. However, WHSmith appears to be betting on a recovery, saying that, in a “fully recovered travel environment”, it expects the stores to generate annual revenue of around £60 million.
The acquisition includes stores at major UK passenger hubs, including at airports such as London Heathrow, London Stansted, London Luton, Manchester, Birmingham and East Midlands. The stores will now join the InMotion brand as WHSmith seeks to expand the chain from the US.
WHSmith acquired InMotion in 2018, with the business’ more than 100 stores across more than 40 US airports doubling the retailer’s international travel operation. Despite WHSmith’s high street and travel operations continuing to be hit by factors including COVID-19, the company says that it is “encouraged” by improving trends over recent weeks as lockdown restrictions have eased in the US and UK.
Along with the acquisition of the Dixons Travel stores and expansion of InMotion, WHSmith has also confirmed plans to expand into new areas. The company said: “Going forward, we see further opportunities to win additional WH Smith stores in airports and hospitals and we are well positioned as travel markets recover and passenger numbers increase.”
Find businesses for sale here.
If you are looking for an exit, we can help!
The company offers an extensive range of luxury cars, including vehicles from prestigious manufacturers such as Aston Martin, Ferrari, Lamborghini and Rolls Royce. The business operates with a unique showroom-free approach, utilising a dedicated onli...
FREEHOLD
The company offers the sale of fashion jewellery, lingerie, and sexual health products and toys, pyjamas, gym clothing, beachwear, and PPE. Priding itself on its high-quality products and exceptional customer service, the company offers its produc...
LEASEHOLD
A thriving e-commerce business that specialises in both travel luggage and hamper gifting sectors. The business has been trading since January 2012. They have introduced a branded website for affordable gifting to suit all budgets and occasions and a...
LEASEHOLD
30
|
Jan
|
Bakery manufacturer acquired at 6.3x underlying earnings | BUSINESS SALE
Bakery firm Lees Foods has been acquired by listed bakery bu...
30
|
Jan
|
“Unique” intellectual property for sale as disability equipment firm enters by liquidation | ADMINISTRATION
The assets and intellectual property of disability equipment...
27
|
Jan
|
Administrators to sell assets as office furniture maker collapses | ADMINISTRATION
Bluespot Furniture, a West Yorkshire-based furniture manufac...
Sign up to receive our acquisition alert emails to get your FREE guide
08
|
May
|
Carphone Warehouse and Dixon merger nears finalisation | MERGER
Carphone Warehouse and Dixons Retail are on the verge of agr...
01
|
Nov
|
Comet 'close to administration' | ADMINISTRATION
The electrical retailer Comet is thought to be close to admi...
23
|
Oct
|
Comet owner 'exploring sale' | BUSINESS SALE
The owner of electrical retailer Comet is understood to be e...
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