Waterstones acquires independent bookseller Blackwell’s

Waterstones’ acquisition of Blackwell’s, which was put up for sale last month, ends 143 years of family ownership of the business. 

Blackwell’s, which operates 18 bookshops, will continue to trade under its own brand following the acquisition.

The acquisition will add Blackwell’s to the consortium of businesses under the umbrella of US hedge fund Elliott Management, alongside the largest US bookseller Barnes & Noble.

Outgoing owner and president Toby Blackwell told The Guardian that Waterstones was “the right buyer at the right time” and that the retailer’s purchase of Foyles in 2018 had demonstrated that “they understand the advantages and benefits of holding diverse iconic bookselling brands in their portfolio”.

Waterstones is expected to invest in the “low single-digit millions” in Blackwell’s staff, stores and ecommerce operation post-acquisition, according to the Financial Times.

Waterstones’ managing director James Daunt said: “Blackwell’s and Heffers [a bookshop chain acquired by Blackwell’s in 1999] are amongst the most illustrious names in bookselling, a legacy for which we have the utmost respect.

“We greatly look forward to working alongside the booksellers at Blackwell’s as we secure the future of these wonderful bookshops and preserve academic bookselling in so many towns and campuses across the UK.”

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