Bertrams Bought By Woolworths

Reuters reports that Woolworths, the sweets & stationary retailer that had a poor Christmas sales-wise, has reached an agreement to buy the wholesaler Bertrams for a reported 29 million pounds. The acquisition is expected to close and be approved by February 1. Commenting on the proposed acquisition, Chief Executive Trevor Bish-Jones said: “The acquisition of Bertram is another important step in the strategic development of the Groups’ Entertainment Wholesale business. It further diversifies our customer base and increases exposure to the growing Books market. The acquisition speeds our entry into the Library Servicing sector and provides an international sales base on which to build. The business also has strong positions supporting online retailers of all sizes. The acquisition of Bertram complements the Group’s existing Book distribution capability. We are particularly pleased that the acquisition provides the opportunity to support many of the best independent booksellers in the UK.”

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