Waterstones has announced plans to buy Foyles from the family of the same name. The deal is expected to complete before the year end, and the terms are not disclosed.
As part of the deal, Waterstones will also buy London bookseller Hatchards and the Dublin booksellers Hodges Figgis.
Waterstones managing director James Daunt confirmed the news as he said: “We are honoured to be entrusted with the Foyles business, and greatly look forward to joining forces with the Foyles bookselling team. Together, we will be stronger and better positioned to protect and champion the pleasures of real bookshops in the face of Amazon’s siren call.”
Christopher Foyle added: “My family and I are delighted that Foyles is entering a new chapter, one which secures the brand’s future and protects its personality. I look forward to witnessing the exciting times ahead for the company founded by my Grandfather and his brother 115 years ago.”