Waterstones reportedly in talks to buy Blackwell’s

In the UK, Waterstones is in exclusive talks to buy independent book chain Blackwell’s, reports Sky News.

The acquisition would mean UK chains Waterstones, Foyles and Blackwell’s, as well as US chain Barnes & Noble, would all come under the ownership of US-based hedge fund Elliott Advisors.

Blackwell’s confirmed to the Bookseller it has secured a period of exclusivity within which to negotiate a deal with a third party but declined to name the prospective buyer. Elliott Advisors and Waterstones declined to comment.

Enders Analysis predicted Blackwell’s could sell for somewhere between £6 million and £20 million (A$11.4m–A$36m). Lynwood Investments acquired Waterstones for £53m (A$100.6m) in 2011. The terms of Waterstones subsequent sale to Elliott Advisor’s in 2018 are undisclosed. In 2019 Elliott Advisors acquired Barnes & Noble for US$683m (A$958m).

As previously reported by Books+Publishing, the family-owned chain Blackwell’s, which comprises 18 shops, was put up for sale for the first time in its 143-year history last week.

Category: International news