Irish bookseller Eason & Son has acquired Brighton-based British Bookshops & Stationers in a deal understood to be worth£30 million.
Eason & Son took a 49.9 per cent stake in the 49-store UK retailer, and is expected to take full control in April 2005.
Eason managing director Gordon Bolton said: 'Expansion in Ireland was restricted, so we decided to look at the mainland. We've known Jonathan (Chowen, British Bookshops retail director) for some time and heard they had a succession problem, so it went from there.'
Eason will retain the British Bookshops and Sussex Statio-ners fascias, and aims to expand the business. British Bookshops chief executive Michael Chowen said: 'We are very pleased, because it secures the future of the business.'
Eason has 47 stores in Northern Ireland and the Republic. Sales last year were EUR372.3 million (£256 million) and pre-tax profits were EUR11.9 million (£8.2 million). British Bookshops' sales in 2002 were£38.7 million and pre-tax profits were£2.1 million.
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