We’re delighted to announce the acquisition of Marshall Retail Group (MRG), a fast-growing and highly successful US travel retailer, for $400m. This is in addition to the strong performance we’ve seen across the WHSmith Group, announced today.
The acquisition will significantly accelerate the growth of our Travel business overseas, and broadly doubles our international business. The US travel retail market is the largest in the world, worth $3.2bn annually. The combined group is ideally placed to compete across news, books, convenience, tech accessories and specialty retail in the US travel market.
MRG operates more than 170 North American locations and generates the majority of its revenue through the sale of news, gifts and convenience products. It has already won 36 additional stores, with 24 due to open next year.
MRG has a strong track record of winning tenders due to its differentiated approach, creating a strong sense of place for the consumer and landlord. We look forward to working with Michael C. Wilkins, CEO of Marshall, and his team to drive continued growth across Marshall, WHSmith and InMotion. Welcome to our new colleagues at MRG, we look forward to the exciting road ahead.
Follow the link below to view our corporate site annoucement: