Oct 17, 2019
WHSmith to expand in US with $400m deal for Marshall
WHSmith plans to double its international travel business and strengthen its presence in the lucrative US airport shopping market with a deal to buy Marshall Retail Group. Jonathan Pritchard, an analyst at Peel Hunt, said the acquisition was "Completely transformative" and showed that WHSmith intended to become a global player in travel retail. A year ago WHSmith paid £155m for InMotion, a US retailer of technology products, in a deal aimed at strengthening its position in the country. The US retailer said InMotion had won its first tenders for US airport stores and that it had performed ahead of initial expectations. Sales from retail outlets in US airports are worth $3bn, according to WHSmith.
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