Van Schaik Booksellers acquires Juta Bookshops

The transaction anticipates the rebranding and integration of the existing Juta Bookshops into the operations of Van Schaik, a division of Times Media.

The transaction supports Juta's intent to exit from the business of retailing books, to build on its position as one of the leading South African providers of legal and regulatory information and student textbooks, and focus on technology-enabled learning and information solutions.

Leading the academic book retailers

For Van Schaik, the transaction enhances its position as the leading academic and professional retailer in South Africa.

Lynne Du Toit, CEO of Juta and Company comments, "While book retailing remains an important distribution channel for the company's publications, it is no longer a strategic imperative for it to continue to own this part of the value chain. In pursuing this exit strategy, our priority has always been our people and our key objective was to secure the ongoing operation of the stores and thereby preserve as many jobs as possible, while ensuring the longevity of the retailing channel. We are delighted to have reached an agreement that does just that. While this is an historic departure for the 160-year-old company, it remains a strong and financially stable enterprise with an excellent record of accomplishment. This transaction will allow us to focus more keenly on our strategy to deliver technology-enabled content and solutions in the interest of our customers' emerging needs."

MD of Van Schaik, Stephan Erasmus says, "Given that the company is in a growth phase, the acquisition makes sense, as it has the infrastructure, expertise and systems in place to allow for speedy and seamless integration, and an improved overall offering that will benefit its customers, should the transaction be approved."