Home Business NewsBusiness British bookstore Waterstones sold

British bookstore Waterstones sold

by LLB Reporter
26th Apr 18 10:21 am

For an undisclosed amount

Activist investment firm Elliott Advisors has bought a majority stake in Waterstones for an undisclosed amount.

Following the deal, James Daunt will stay on as chief executive with his key leadership team. Daunt added that the deal was “a very happy outcome for Waterstones”.

The deal is expected to complete in May but Elliott is providing all the financing for the transaction, including the consideration and ongoing operational finance.

Paul Best, head of European Private Equity at Elliott said: “As the leading physical book retailer in the UK, Waterstones is a mainstay of UK high streets and has a huge and loyal customer base. We look forward to supporting James Daunt and his entire team over the long-term as they continue to build and grow the business”.

Waterstones has 283 bookshops and 3,000 staff in the UK, Ireland, the Netherlands and Belgium.

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