WH Smith has struck a deal to buy US travel company InMotion.
InMotion sells digital accessories in US airports. WH Smith will pay $198 million for the company.
InMotion currently operates a concession portfolio of 114 stores across 43 different airpoirts.
InMotion have achieved a like-for-like sales growth for the year to date and a like-for-like growth of 12% in the previous year. The company is expected to deliver sales of $166 million and EBITDA of around $23 million.
Stephen Clarke, group chief executive of WH Smith, said: "The acquisition of InMotion is an exciting value creation opportunity for the WH Smith Group and marks a major step in our international travel retail growth strategy.
"The travel retail market in North America for digital accessories offers significant growth potential. As the market leader, recognised for its best-in-class customer service, InMotion is well positioned to take advantage of that potential.”
WH Smith will continue to work closely with the InMotion management team going forward.
Jeremy Smith, president and chief executive of InMotion, added: "The team at InMotion are delighted to be joining such an iconic business with a high growth international division. Working together, we look forward to combining our expertise in travel retail to grow the InMotion business further both within and outside of the US, while at the same time accelerating WH Smith's international growth strategy."
