Ottakar's Acquires Hammicks' Stores

June 2003

GCW has recently advised Ottakar's, one of the UK's leading book retailers, on the acquisition of 24 stores from Hammicks for £3.275m.• Ottakar’s total floorspace increases by 30%• Ottakar’s annualised turnover increases by 25% / £28m• Net assets of £6.4m acquired • Excellent geographical fit with current portfolio Commenting on the acquisition, Philip Dunne, Chairman, said: “We are excited by this acquisition which provides us, at a good price, with both 30% more trading space and a business whose shop locations, range and culture are entirely complementary to our own…….We look forward to the task of integrating the Hammicks stores into our group.”The acquisition of Hammicks, in conjunction with a number of on going relocations, has resulted in a number of surplus shops becoming available.