Book People, the book retailer backed by private equity firm Endless, has acquired Qwerkity, a mail order and online gift business.
Qwerkity was founded in 1989 as a mail order business and now also has a substantial online business. In the year to January 2017 it had revenues of £9.1 million.
Book People has been through a similar evolution since it was established in 1988 and now sells its books both online and via mail order as well as through its local bookseller network. In the year to December 2016 it had revenues of £79 million.
Since being acquired by Endless in 2014 Book People has significantly developed its e-commerce business as well as expanding the content and information available on its website.
Book People said that bringing the two businesses together provided an exciting platform for growth.
William Wellesley, the CEO of Book People, said: “Bringing Qwerkity into the Book People family gives us a great opportunity to grow its business using our digital, buying and fulfilment expertise. Our expansion into the gifting market, through this acquisition, also represents the natural next step for Book People.”
Francesco Santinon, Partner at Endless, added: “Book People is a well-known, well-established and profitable business with great future earnings potential in its own right. We are very happy to be able to support the acquisition of Qwerkity which is an ideal bolt-on and will allow us to fully utilise the core strengths of Book People.”