Stationery retailer WHSmith makes £155m InMotion move
High Street retailer WHSmith has further bolstered its fast-growing travel segment with the £155m acquisition of InMotion, specialists in the sale of digital accessories via US airports.
Stationery retailer WH Smith makes £155m move for InMotion
The foray across the Atlantic highlights the determination of WHSmith to break free of its sluggish high street shackles and frayed carpets in order to tap into what is the world’s largest travel retail market, with commensurate possibilities to grow markets for digital accessories beyond North America.
Group chief executive Stephen Clarke said: “InMotion provides us with a scalable platform to launch the WH Smith airport format into the US, the world's largest travel retail market for news, books and convenience products.
"InMotion is run by a very experienced senior management team and we look forward to working with the CEO, Jeremy Smith, and his team to further develop both businesses across North America and other territories."
At a stroke the deal will double the size of WHSmith’s existing travel business with the retailer viewing the transaction as a catalyst for further international growth.