Books, newspaper and stationery seller WH Smith has agreed to buy airport-based digital accessories retailer InMotion for 155 million pounds (USD 198.40 million).
InMotion will continue to operate as a standalone business as part of WH Smith’s international travel business and be led by InMotion’s senior management team headed by Jeremy Smith, its CEO of 12 years.
InMotion is the market leading airport-based digital accessories retailer in the US and was acquired by BRS and Palladin in 2013. During BRS and Palladin’s ownership, InMotion pursued an acquisition strategy resulting in the acquisition and successful integration of two competitors including APW, the second largest airport- based retailer of consumer goods and electronics. Today, InMotion operates a portfolio of 114 stores across 43 airports in the United States, with a presence in nine of the top ten and 22 of the top 25 busiest US airports (based on enplanement). WH Smith is one of UK’s leading retailers and the acquisition of InMotion will more than double WH Smith’s international travel business and provide it with attractive growth opportunities.
Jeremy Smith, CEO of InMotion, commented: “With BRS and Palladin’s support, InMotion has consolidated its market position in airport-based retail in the US and broadened its offerings to travelers. We look forward to partnering with WH Smith management for InMotion’s next chapter, including strengthening our supplier, airport and customer relationships and accelerating WH Smith’s international growth strategy.”
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