Smiths News arm buys books company Erasmus
UK newspaper and magazine wholesaler Smiths News said on Monday its business Bertram Books acquired Erasmus Antiquariaat en Boekhandel.
UK newspaper and magazine wholesaler Smiths News said on Monday its business Bertram Books acquired Erasmus Antiquariaat en Boekhandel.
Bertram has purchased the company from Tschenett Beheer for €1.5m in cash via subsidiary Dawson Books. Erasmus is a Netherlands-based supplier of books and journals to academic libraries and government institutions across Northern Europe.
Erasmus generated revenues of €15m in the year to December 31st, and Bertram expects to gain on its success with incremental £0.4m earnings in 2014.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
The transaction will expand Bertram's existing customer base in Europe and will provide entry into the US market.
The group projected an increase of total international sales to £50m on a pro forma basis.
Mark Cashmore, Chief Executive Officer of Smiths News, said: "We are delighted to have completed another strategic bolt-on acquisition, which is an excellent addition to our books business.
"Erasmus extends our Northern European academic business and accelerates our expansion plans. The group will benefit from an increase in scale and a stronger sales presence in Northern Europe."
Shares in Smiths, which also supplies books and products to the education market, rose 1.91% to 163.06p at 8:50 Monday.
RD
Sign up for MoneyWeek's newsletters
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
-
UK-US trade deal announced: US cuts tariffs on UK car imports to 10%
Keir Starmer and Donald Trump have announced a UK-US trade deal, but the US president has refused to lift baseline tariffs on most UK goods. What does it mean for the UK?
-
How to use mid-caps to diversify from the US
Medium sized companies are overlooked by investors but could offer an attractive ‘sweet spot’. We consider the case for mid-caps amid market volatility.