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Article: Borders Group Announces International Initiatives
- Article from:
- PR Newswire
- Article date:
- September 29, 1997
CopyrightCOPYRIGHT 1997 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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ANN ARBOR, Mich., Sept. 29 /PRNewswire/ -- Borders Group, Inc. (NYSE: BGP) announced today that it has signed a definitive agreement to purchase 100% of the outstanding stock of Books, etc., a London-based retailer of books and associated products. Founded in 1981, Books etc. currently operates 22 stores in the United Kingdom. Following completion of the transaction, Books, etc. will be 100% owned by a new Borders Group subsidiary, BGI U.K., and Borders Group. The business will be led by Richard Joseph, currently Chairman and CEO of Books, etc., and the existing Books, etc. management team. Terms of the transaction were not disclosed; however, management indicated ...
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