WHSmith: Modella Capital outlines plans following high street arm acquisition

Private equity firm Modella Capital has set out its initial plans for the WHSmith’s high street business, following the £76m acquisition announced this morning.

The deal, which covers approximately 480 WHSmith stores across high streets, shopping centres, and retail parks in the UK, marks the firm’s latest expansion.

Under Modella’s ownership, the stores will rebrand to TGJones, with plans to retain the existing product offerings, including Post Office and Toys “R” Us services.

Modella Capital, which also owns Hobbycraft and The Original Factory Shop, expressed confidence in the high street’s future and outlined plans to introduce new product ranges and services in the near future, working closely with the existing management team to drive the business forward.

• Related Story

  • 

    WHSmith sells UK high street arm for £76m to Modella Capital

    28/03/2025 x 7:15 AM

A Modella spokesperson said “We are delighted to welcome the WHSmith high street business into our portfolio. With a rich heritage and prime locations across the UK, we see great potential in evolving the TGJones brand to meet the changing needs of consumers while staying true to its community roots.”

“TGJones feels like a worthy successor to the WHSmith brand. Jones carries the same sense of family and reflects these stores being at the heart of everyone’s high street.

“There will be a handover period in the immediate term, and it is very much business as usual whilst we work closely with the management team to define and execute a strategy to introduce new ranges and other offerings in the future.”

TGJones will be headed up by WHSmith’s managing director of its high street division Sean Toal.

The new chief executive added: “Selling the High Street business has been a significant milestone for the WHSmith Group, and I am delighted that we have agreed a sale with Modella Capital who, I know, will be supportive new owners.

“I’m incredibly proud of everything we’ve achieved as a High Street team and this next chapter presents exciting opportunities for growth, innovation, and continued success for the business and our talented colleagues.

“I have every confidence that under Modella’s leadership, the business will go from strength to strength, and I look forward to all that we can achieve together in the future.”

The move comes as WHSmith continues its shift towards becoming a pureplay global travel retailer, focusing on its expanding travel operations at airports, hospitals, and railway stations worldwide.

Click here to sign up to Retail Gazette‘s free daily email newsletter