WHSmith unveils $400m Marshall Retail acquisition as profits edge up
WHSmith is set to double the size of its international travel business with the acquisition of US travel chain Marshall Retail, as it unveiled full-year sales and profit growth.
The entertainment and travel chain has signed an agreement to acquire Marshall Retail Group for $400m (£312m) to drive its international travel growth.
The US retail chain has 170 stores across US travel resort and tourist locations, 59 of which are in airports. The retailer has another 33 airports stores slated to open by the end of 2024.
WHSmith’s outgoing boss Stephen Clarke heralded the acquisition as “an exciting value-creating opportunity, entirely in line with our strategy”.
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