REG - WH Smith PLC - WHSmith sells Funkypigeon.com

WH SmithAnnouncement

Tue 07:00

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RNS Number : 8928S  WH Smith PLC  29 July 2025

 

WH Smith PLC

 

The global travel retailer

 

29 July 2025

 

 

 

WHSmith sells Funkypigeon.com

 

 

WH Smith PLC ("WHSmith" or "the Group") has agreed the sale of its online
personalised greeting cards business, funkypigeon.com, to Card Factory ("The
Transaction") following a strategic review of this business.

 

This Transaction is consistent with the Group's strategic focus on travel
retail. The Group is now a pure play global travel retailer, well positioned
to capture the substantial global growth opportunities in its key markets and
drive enhanced shareholder value.

 

Consideration represents an enterprise value of £26m on a cash and debt-free
basis and an equity value of £24m. Net cash proceeds, when adjusted for
transaction costs, are anticipated to be £21m and will be used to improve the
Group's net debt position.

Completion of the Transaction is expected to occur before the end of the
calendar year, subject to the receipt of any required regulatory approvals.

 

The Group is trading in line with market expectations.

 

A copy of this announcement will be available at www.whsmithplc.co.uk.

 

 

 

 

 

 

 

 

 

 

Enquiries:

 

WH Smith PLC

Nicola Hillman                         Media
Relations
+44 1793 563354

Mark Boyle                              Investor
Relations
+44 7879 897687

 

Brunswick

Tim
Danaher
+44 20 7404 5959

 

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