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NewsLink boosts HDS’s travel retail presence in Asia Pacific |
AUSTRALIA. Hachette Distribution Services SA (HDS) today advised that the acquisition of 100% of NewsLink Pty Limited had been completed.
NewsLink operates a group of retail outlets in travel and commuter terminals in Australia.
HDS has held a 40% interest in the company since 30 April 2001. NewsLink will now become a wholly-owned subsidiary of HDS following the completion of the acquisition.
Roger and Heather Wood founded the NewsLink retail chain in 1990, after successfully obtaining the rights to operate the bookstall concessions at major Sydney CBD railway stations. Roger Wood will continue as Chairman of NewsLink Pty Limited.
The company has since diversified and currently operates 42 travel retail outlets in Australia and manages 10 stores at Changi Airport in Singapore on behalf of HDS. Retail brands in the group include: “˜NewsLink’ (books and press), “˜Discover’ (regional wine and produce), “˜Virgin’ (music, DVD’s and books), “˜Kaboom’ (children’s concept) and “˜TimesNewsLink’ (books).
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Managing Director Scott Raisin: “The acquisition allows NewsLink access to a wealth of experience and expertise within the international HDS network.” |
Hachette Distribution Services SA is part of the Lagardere Group, a company listed on the Paris stock exchange. It operates the largest international network of travel retail outlets devoted to cultural and entertainment products, under international brands such as “˜Relay’ and “˜Virgin’.
The company said this acquisition is part of a broader plan to increase the travel retail presence of HDS in the Asia Pacific region. NewsLink’s national base in Sydney will continue to represent HDS in the region.
Managing Director Scott Raisin said: “The acquisition allows NewsLink access to a wealth of experience and expertise within the international HDS network.”
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