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31-Mar-2025 4:55 AM

WHSmith sells UK High Street business to focus on travel retail

WHSmith agreed (28-Mar-2025) to sell its UK High Street business to Modella Capital for an enterprise value of GBP76 million. Following the transaction, WHSmith will be "a pure play global travel retailer". WHSmith's Travel divisions will continue to trade under the WHSmith brand in 32 countries, including at airport locations. The company stated the transaction "will allow management to concentrate on capturing the substantial growth opportunities in its key travel markets with a clear focus on driving shareholder value". The company's Travel business is focused on increasing spend per passenger, optimal use of space, space growth in new and existing markets, and growth of passenger numbers. [more - original PR]

Background ✨

WHSmith had been exploring strategic options for its High Street division, including a possible sale, to focus on travel retail1. WHSmith North America launched an in-store travel retail media network in partnership with SMG North America to engage travellers at over 300 locations2. WHSmith's Travel segment reported strong growth in FY2024, with revenue up 11% year-on-year and significant expansion in key markets like the UK and North America3.

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