Waterstones announced on Monday that it has entered a deal to acquire academic and specialist bookstore chain Blackwell’s, for an undisclosed sum, with funds advised by Elliott Advisors. Blackwell’s, which has 18 shops across the UK and operates Heffers in Cambridge, has been family-owned since 1879. The acquisition now brings Blackwell’s under the same ownership as Barnes & Noble and UK bookshop Foyles. “Blackwell’s and Heffers are amongst the most illustrious names in bookselling, a legacy for which we have the utmost respect,” Waterstones’ managing director James Daunt said. “We greatly look forward to working alongside the booksellers at Blackwell’s […]
Bookstores
Waterstones Reportedly Close to Deal with Blackwell’s
Waterstones is days away from finalizing a deal to acquire Blackwell’s, the Financial Times reports. A source says that the deal is expected to be in the “low, single-digit millions,” and it would likely be subject to regulatory approval. Blackwell’s ceo David Prescott “said the company was still in exclusive talks with a prospective buyer.” Like Foyles, which was bought by Waterstones in 2018, Blackwell’s will remain its own brand. Waterstones is owned by Elliott Advisors, which purchased Barnes & Noble in 2019.
New ABA VP Announced; Board Meets with Labor Attorney
At the American Booksellers Association three-day virtual board meeting this month, Duende District Bookstore owner Angela María Spring was announced as co-vice president, sharing the title with Kelly Estep. Last year, the board allowed for two vice-presidents to “improve the pipeline to the presidency” as part of their equity and inclusion initiatives. In a session focused on “board education about an industry trend,” the board met with labor attorney Mark A. Konkel from the ABA general counsel’s office. Bookselling This Week reports that Konkel “represents owners but is pro-worker and knowledgeable about unions from the perspective of both employers and employees. He […]
Waterstones Reportedly In Talks to Acquire Blackwell’s
Waterstones is in discussions to purchase Blackwell’s, Sky News reports. The 18-store UK chain confirmed it is in a period of exclusivity with an unnamed purchaser to negotiate a deal. Waterstones is said to be pursuing the acquisition on a solvent basis, and it is expected that such a deal would require regulatory approval. The Blackwell family has owned the operation since its founding in 1879.
Bookselling: Parthenon Books To Open In Syracuse
Parthenon Books will open in downtown Syracuse, NY, becoming the city’s first independent bookstore in 30 years. The opening is planned for April 1, though Syracuse.com reports that “the exact date could vary depending on the availability of construction supplies.”
Bookselling: Joseph Fox Bookshop To Close
Philadelphia’s Joseph Fox Bookshop will close on January 29 after 70 years. The Philadelphia Inquirer reports that business has not returned to pre-pandemic levels. The store was founded in 1951 by Joseph Fox, with Michael Fox and his wife Judi Fox taking over in 1998. Michael Fox, 69, told the Inquirer, “I’m old enough that I felt it was time to retire. I feel sad for my customers, I do. I feel sad for the city, that they’re losing a good bookstore.”