WH Smith has agreed to sell its UK high street chain to Modella Capital in a deal valuing it at £76 million and will eventually rebrand under a new name, the company has announced.
WH Smith is selling its UK high street chain to Modella Capital for £76 million and will rebrand the approximately 480 stores as "TGJones." The deal excludes WH Smith's travel locations (airports, train stations) and the WHSmith brand, allowing WH Smith to focus exclusively on its travel retail business. Modella Capital also owns Hobbycraft and The Original Factory Shop.
