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Smiths News buys Houtschild Internationale Boekhandel
14.06.12 | Lisa Campbell
Bertrams’ parent company Smiths News has bought Dutch-based academic books supplier Houtschild Internationale Boekhandel from Blackwell for €0.7m.
The UK-based book wholesaler said the acquisition would help it to grow digital sales in Northern Europe, particularly in Germany, the Netherlands and the UK, where Houtschild mainly trades but does not yet have an e-book capability.
Graeme Underhill, managing director of Bertrams Books, said the company would “certainly continue to look at other opportunities in the book market” in terms of making other acquisitions in order to grow its physical, digital and library markets in the UK and abroad in the near future.
“We can bring support the Houtschild business with the range we already have, and with some of the services the Bertram Group already has, cross-selling physical with digital, and we will also have buying power synergies,” Underhill said.
Bertrams said Houtschild has “a loyal customer base” and generated sales of €4.9m to 30th June 2011.
Mark Cashmore, c.e.o. of Smiths News, added: "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.”
Smiths News added that the acquisition demonstrated the company’s ability to “grow organically whilst capitalising on strategic bolt-on opportunities and generating additional shareholder value".