UK retailer WH Smith has acquired travel retailer InMotion.
InMotion is the largest airport-based digital accessories retailer in North America, which includes a concession portfolio of 114 stores across 43 airports in the US. The company has delivered like-for-like sales growth of 13% in the calendar year to date and for FY2018 is expected to deliver sales of approximately $166 million and EBITDA of $23 million.
InMotion will continue to operate as a standalone business and the senior management team will continue to lead the business.
The $198 million deal is expected to close at the end of this year and will double the size of WH Smith’s international travel business, marking a significant step in the company’s growth strategy.
WH Smith CEO Stephen Clarke said: “The travel retail market in North America for digital accessories offers significant growth potential. As the market leader, InMotion is well positioned to take advantage of that potential. In addition, it provides us with a scalable platform to launch WH Smith airport format into the US, the world’s largest travel retail market for news, books and convenience products.”
InMotion is the largest airport-based digital accessories retailer in North America, which includes a concession portfolio of 114 stores across 43 airports in the US. The company has delivered like-for-like sales growth of 13% in the calendar year to date and for FY2018 is expected to deliver sales of approximately $166 million and EBITDA of $23 million.
InMotion will continue to operate as a standalone business and the senior management team will continue to lead the business.
The $198 million deal is expected to close at the end of this year and will double the size of WH Smith’s international travel business, marking a significant step in the company’s growth strategy.
WH Smith CEO Stephen Clarke said: “The travel retail market in North America for digital accessories offers significant growth potential. As the market leader, InMotion is well positioned to take advantage of that potential. In addition, it provides us with a scalable platform to launch WH Smith airport format into the US, the world’s largest travel retail market for news, books and convenience products.”
