New chapter for The Book People with £15m Endless deal

The Surrey-based bookseller employs 450 people and has sales of £96m.

It is the second Endless investment in book retailing, a sector dominated by Amazon.com.

Garry Wilson, managing partner, told The Yorkshire Post: “We have had a fantastic experience with our investment in The Works, which is an important seller of discount books.

“Yes, Amazon is a very strong mass-market player but The Book People offers fantastic value and has a very loyal following of customers. It’s a nice niche to be in.”

Mr Wilson contacted chief executive Seni Glaister after reading an article in the trade press three months ago.

The deal to buy the business from previous owner Ted Smart was announced yesterday.

The Book People has a strong e-commerce platform for books and downloads, “an army” of 300 self-employed distributors who sell books in company receptions and a book events business, said Mr Wilson.

The investment includes a majority shareholding and working capital as well as money to grow the business. Ms Glaister has taken a significant shareholding, said Mr Wilson.

She said: “I’m delighted to be working with Endless, who share my enthusiasm for the future of bookselling.

“I don’t think there has ever been a more exciting time to be in this business and I am very much looking forward to the next chapter.”