Waterstones has announced that it has completed the acquisition of Foyles, which Stationery Matters covered in September.
James Daunt, md of Waterstones, commented on the formal completion of the sale: “We are very pleased to welcome the Foyles bookselling team to our wider business.”
As announced in September, the former chief executive of Foyles, Paul Currie, has now left the business as planned, with Roger White appointed to take over the management of its seven shops, four of which are in London, with branches in Bristol, Birmingham and Chelmsford.
New Foyles md Roger White has worked for Waterstones for many years, including a spell as manager of the Piccadilly flagship store, and overseeing a large part of the London region.
Fans of Foyles expressed concerns following the announcement of the acquisition by Waterstones that the store would lose its distinct identity. James Daunt has reiterated his intentions that
he won’t "Waterstonesify" Foyles.
In a press statement on the Foyles website, a company spokesperson said: “Confident that the future of Foyles is secure, the family and staff look forward to witnessing the exciting times ahead for the company founded over 115 years ago.”