Sep 7, 2018

Waterstones buys Foyles to defend bookshops against Amazon

Waterstones is buying the 115 year-old family-owned chain Foyles, saying the deal will help to "Champion" real bookshops in the face of online rivals. Waterstones said the deal would help booksellers fight back against Amazon's "Siren call". Foyles was founded at the turn of the last century by the Foyle family and for more than half a century was run by the famously eccentric Christina Foyle. "Welcoming the deal, Christopher Foyle said:"My family and I are delighted that Foyles is entering a new chapter, one which secures the brand's future and protects its personality. Mr Daunt said the acquisition of Foyles would leave the company "Stronger and better positioned to protect and champion the pleasures of real bookshops in the face of Amazon's siren call".

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