Smiths News acquires Dutch library supplier Erasmus

Smiths News acquires Dutch library supplier Erasmus

Smiths News has moved to further increase Bertrams' library sales to Northern Europe and America with its acquisition of Dutch company Eramus Antiquariat en Boekhandel.

Smiths News bought the company from Tschenett Beheer for a net consideration of €1.5m, satisfied in cash through the Smiths News-owned Dawson Books Ltd. The company expects the acquisition to boost total international sales to £50 million.

Erasmus was founded in Amsterdam in 1934 as an antiquarian bookseller specialising in art and history, and by 1984 moving to focus on providing university, research and specialist libraries with books. The company has 40 employees in Amsterdam and Paris.

The acquisition of bolt-on business Erasmus will boost Dawsons academic library sales to Northern Europe, particularly France, Germany and Switzerland, and also the US. The group last year also acquired Houtschild in June 2012, helping it to increase its presence in Europe.

Mark Cashmore, chief executive of Smiths News said: "We are delighted to have completed another strategic bolt-on acquisition, which is an excellent addition to our books business. Erasmus extends our Northern European academic business and accelerates our expansion plans. The group will benefit from an increase in scale and a stronger sales presence in Northern Europe."

Bertrams reported that in the 19 weeks to 12 January sales to the international market rose by 14% but like-for-like library sales decreased by 1.5%.