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Sameday buys Country Bookshop

23.07.07 | Philip Jones

Samedaybooks has bought Country Bookshop, the online bookselling business and community website for £500,000. The deal does not include the shop, but does include Country Bookshop founder Sridhar Siddegowa, who will join the Samedaybooks management team in order to provide "strategic advice on e-commerce activities across the company".

It is Charles Denton's first acquisition since taking a controlling stake in the troubled retail business earlier this year. Denton, deputy chairman of Samedaybooks, said: "This is our first strategic investment to accelerate our expansion of the company. Countrybookshop.co.uk was a pioneer of online bookselling with a well established brand name, valuable technology, community website software and an extensive customer database. We quickly aim to integrate the business into the Samedaybooks platform to deliver a step change in our growth."

The deal will see the owners receive £250,000 in cash and £250,000 worth of equity in Samedaybooks. The deal does not include the retail outlet or the Peak Book Festival.

Siddegowa said: "I am extremely pleased to have found a home for our business that will allow us to spend more time developing our e-commerce ideas and the social networking side under the new concept, Booksconnect.co.uk. We are also in discussions with potential partners to extend our platform into the Indian market."

• Charles Denton
• Country Bookshop
• Philip Jones
• Samedaybooks