Smiths News said the acquisition is in line with its strategy of âbroadening its operational base with activities that complement Smiths News group's core operation of newspaper and magazine distributionâ.
It said it expects the acquisition to be earnings enhancing in the first full financial year of ownership.
Smiths News will ploughÂŁ7m into Bertram over the period to 31 August, 2009, in order to increase stock availability and thereby customer service.
Smiths News chief executive Mark Cashmore said: âWe believe this represents an excellent strategic opportunity for Smiths News to broaden our business and to utilise further our specialist distribution skill set in the UK.â
In the year to February 3, 2008, Bertram reported sales ofÂŁ122.5m, and pre-tax profit ofÂŁ2.6m.
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