English Stationer Smythson for Sale?
Tuesday, March 10th, 2009Smythson of Bond Street is one of the oldest and most venerated stationer’s in the world. Established in 1887 by Frank Smythson, this London landmark is known for its fine leather goods, beautiful engraved stationery and its distinctive robin’s egg blue packaging. Stationer to the Queen since 1965, Smythson has undergone several ownership changes in recent years, most lately in 2005 when it was acquired by a private equity firm.
The UK Press Association reports that Smythson has attracted a number of potential suitors and initial reports suggest a large premium to the reported GBP 16 million (US$24 million) that were paid in 2005. While the Smythson name certainly commands a premium, it does seem to be a bit of a stretch given today’s economic conditions to assume that the sale will generate a substantial premium over the 2005 price. Nevertheless, the weakness of the pound may play into the hands of a foreign investor.
While Smythson no longer sells its lovely stationery through independent stationery stores in the US, Smythson is an exceptional line of stationery with much history and beautiful craftmanship.
Richard May
Founding Member