Bertram Books, a wholly owned subsidiary of Smiths News PLC, has acquired Houtschild Internationale Boekhandel B.V. from Blackwell UK Ltd for a net consideration of €0.7 million satisfied in cash via its subsidiary Dawson Books Ltd.
Houtschild, based in the Netherlands, is a supplier of books and journals into both academic libraries and Government Institutions across Northern Europe and is very well regarded by a loyal customer base. In the year ended 30 June 2011, Houtschild generated revenues of €4.9 million.
Mark Cashmore, Chief Executive Officer of Smiths News PLC, said, “We are delighted to have completed this acquisition, which is an excellent addition to our books business. Houtschild represents a clear international strategic step for Bertrams consistent with our stated aim. The Group will benefit from synergies, an increase in scale and a stronger sales presence in Northern Europe, as well as accelerating the digital platform roll out.”
UK, Swindon, Wiltshire & The Netherlands, Rijswijk
- Smiths News acquires Hedgelane posted on May 18, 2012