Amazon.com to acquire Book Depository
Amazon.com agreed to acquire online bookseller The Book Depository International, a UK-based retailer, on July 4.The Book Depository reported sales of $173.5 million in the 12 months ending in June.
The deal is subject to closing conditions, including regulatory approvals. The UK's Office of Fair Trading said it will investigate the acquisition. TheBookseller.com reported that the investigation will look into whether the acquisition could lead to "a substantial lessening of competition" in UK markets. The Office of Fair Trading could not be reached immediately for comment.
Representatives from The Book Depository, which sells items to consumers in about 100 countries, said the e-retail site expects to remain an independent entity, according to numerous reports.
Greg Greeley, Amazon's VP of European retail, praised The Book Depository's “vast selection, convenient delivery and free shipping” in a company statement.
“The Book Depository and Amazon are aligned in wanting to ensure the best possible experience for customers,” The Book Depository said, in a statement. “Working with Amazon, we will look to continue to increase our vast selection of great titles and provide an even better customer experience.”
Representatives from Amazon and The Book Depository could not be reached immediately for comment.
