WH Smith sells Funky Pigeon brand for £24m in travel pivot Retail WH Smith has sold its Funky Pigeon brand to Card Factory, as the retailer sheds legacy assets ahead of a pivot towards becoming a pared down travel retailer. The Bristol and Guernsey-based novelty greeting cards line was sold for £24m, with Card Factory looking to integrate its technology into its consumer business. Funky Pigeon’s sale [...]
WH Smith agrees sale of UK high street chain to Modella Business WH Smith has agreed to sell its 233-year-old UK high street business to Modella Capital for around £76m. Modella Capita, which owns Hobbycraft, pipped a number of bidders to the prize including Alteri Investors, the owner of Bensons for Beds. The deal will transfer WH Smith’s 500 stores to the investor, with the high street [...]
Arts and crafts giant Hobbycraft sold to Ted Baker investor Retail Hobbycraft, which is one of the UK’s biggest arts and crafts retailers, has been snapped up by a specialist investor whose team has previously supported chains including Paperchase and Tie Rack. Investment group Modella Capital announced it had bought the Bournemouth-headquartered company from its majority owner, the fund management group Bridgepoint, for an undisclosed sum. [...]