Smiths News shares jumped 2p to 162p this week on the news that the newstrade wholesaler had expanded its Bertrams Books business further with the €1.5m acquisition of Erasmus Antiquariaat en Boekhandel.
Erasmus, a Dutch company, supplies books and journals to academic libraries and government institutions, mainly across Northern Europe, but also in the US. Sales were €15m in 2012.
Smiths News said the deal took it into the US market for the first time, and would increase Bertrams’ total international sales to £50m. It already has market leading positions in several European territories following its acquisition of Houtschild in June 2012.