SMITHS News yesterday announced a rebrand to Connect Group next month as the company continues to diversify its business to become a specialist distributor.
Britain’s biggest supplier of newspapers and magazines, that was spun out of stationers WH Smiths eight years ago, said the change aligns with its move away from a being pure newspaper and magazine distributor.
“Our new name and company identity is a landmark change for the Group. Since 2006 we have made substantial progress in growing market share and successfully diversifying into new sectors and markets,” said chief executive Mark Cashmore.
The company also operates Bertram Books, its UK book wholesaler division, and The Consortium, a distributor to the education and care markets.
“This change will allow us to retain our existing brands and their customer relationships whilst providing a clear and unifying structure to the organisation as we continue to enhance shareholder value,” added Cashmore.
Smiths News said yesterday that Connect Group would continue with the strategic target of delivering 50 per cent of operating profit from outside of its newspaper and magazine wholesaling division by 2016.
The company’s name change will take effect on 22 April, the day before its half-year results.