Smith WH PLC
3 March 2000
ACQUISITION OF USA HOTEL RETAILING BUSINESS FOR $19M
WHSmith has completed the acquisition of Hazelwood Enterprises Inc for
$19m, which was announced on 29 January 2000.
Hazelwood operates stores in 70 hotels in the USA, mainly centred in
the South West region. In the year to 31 December 1999, it had sales
of $18m, earnings before interest, tax, depreciation and amortisation
of $4.5m and profit before administration, interest and tax of $4.1m.
WHSmith currently has sales of approximately $310m in the USA with 450
stores, of which 300 are in hotels. It is following a policy of
aligning its USA business more closely with the UK brand.
WHSmith's worldwide sales from stores in travel locations amount to
£460m with 650 stores, including the USA and recent developments in
Hong Kong, Singapore and Sydney.
Enquiries:
Sian Wood, Corporate Affairs 0171 409 3222
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