Blackwells conquer Cambridge
THe managing director of Blackwell's Bookshops, Alan Leitch, has confirmed that the famous Oxford brand is to take over Cambridge booksellers, W.Heffer & Sons, writes the News staff.
The 123 year-old Cambrdge group is to cost Blackwell's between ten and twelve million pounds. The deal is likely to see Blackwell's annual sales rise to around eighty million pounds.
Blackwell's Chief Executive, Anthony Thompson, explained, "The UK book industry is in a state of turbulence. But there is growth in the sector."
The deal sees two of Britain's most prestigious academic booksellers united for the first time. Leitch promises, however, that Blackwell's is not planning simply to annexe the Cambridge company. Leitch commented, "Blackwell's is delighted and honoured at the opportunity to build on the Heffer's heritage going back over 120 years: it is a heritage we greatly admire and respect and which we are committed to developing."