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provisionally cleared HMV Group, through
Waterstone's, for takeover of the Ottakar's group on 30 March 2006. The Commission stated that the takeover would "not result in a substantial lessening of competition", and was "not likely to affect book prices, range of titles offered or quality of service."
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Ottakar's was also very popular with book buyers. A customer survey in 2004 revealed that many people believed that their local branch of
Ottakar's was an independent bookshop. This was viewed as a vindication of the Ottakar's head office policy of giving branches as much local autonomy as possible.
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The
Ottakar's Children's Book Prize was an annual award given to a work of children's literature published during the previous year. First awarded in 2005, the purpose of the prize was "to uncover hidden talent in children's writing" and was therefore open only to authors who have published no more
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said in a statement: "A combined
Waterstone's and Ottakar's business will create an exciting, quality bookseller, able to respond better to the increasingly competitive pressures of the retail market." Ottakar's chairman Philip Dunne said: "Over the last year the book market has undergone a
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In an attempt to compete with online booksellers, Ottakar's established an online ordering service. After turning a loss, the service was withdrawn in 2001, but by 2006, the company had hoped to relaunch their internet arm before the takeover by HMV.
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offer which was initially accepted by
Ottakar's independent directors, some of whom had only recently joined the company. When a higher offer was made by HMV, the owners switched their recommendation to accept the HMV bid.
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branch and opened stores in
Loughborough, Brighton, Banbury, Salisbury and Trowbridge. A number of Ottakar's stores drew on the Tintin connection and had walls painted with scenes from the series. The Ottakar store in
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Booksellers in 2002, and twenty-four branches of
Hammicks Bookshops Ltd, a company with 35 years of bookselling history, in April 2003. By mid-2006, the chain had shops in 141 locations throughout the United Kingdom.
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significant change with new levels of competition from the supermarkets and online retailers impacting all specialist booksellers and in particular those with insufficient scale to compete on equal terms."
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Through extensive research they also found that "contrary to widespread perception, Waterstone's, like
Ottakar's, operates a book-buying system which mixes central and local input on stock selection."
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Waterstone's then announced that it had successfully negotiated a takeover of
Ottakar's on 31 May 2006 with an agreed cash offer of £62.8 million. HMV chief executive
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had a large rocket taken from the Tintin novels so that children could play inside it. Above the rocket was a cartoon picture of the night sky to add to the effect.
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Ottakar's was well known in the book trade for the exceptionally high morale and commitment of its staff. Damien Horner, from the advertising agency
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was due to decide whether to approve the buyout of
Ottakar's by Waterstone's on 2 December 2005. On 6 December the OFT referred the case to the
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Group takeover of the Ottakar's chain, the prize also changed its name to become the
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commented that Ottakar's "was more like a religious cult than a business".
715:: UK Competition Commission gives green light to HMV takeover of Ottakar's
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Ottakar's official site (Archived from the original on 4 July 2006)
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than three books. When all Ottakar's stores were rebranded as
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1431:List of bookstore chains
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478:Harry Potter
462:Waterstone's
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403:Total assets
364:David Adams
355:Philip Dunne
319:Headquarters
313:Waterstone's
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152:Please help
147:verification
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1410:Waldenbooks
1370:Crown Books
1188:Waterstones
849:25 February
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795:|last=
777:25 February
737:25 February
498:Waterstones
340:Area served
169:"Ottakar's"
1447:Categories
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659:References
607:Alan Giles
522:James Thin
366:Mark Fane
350:Key people
334:141 (2006)
180:newspapers
92:improve it
47:improve it
1400:Ottakar's
1360:B. Dalton
1231:Read Shop
1158:Blackwell
1019:Southeast
910:bookstore
581:) made a
450:bookshops
446:Ottakar's
309:Successor
296:Late 2006
108:July 2017
96:verifying
53:talk page
1424:See also
1390:Hastings
1032:Gramedia
958:Book Off
942:Page One
787:cite web
617:See also
565:Takeover
373:Products
304:Sold off
272:bookshop
267:Industry
210:May 2011
18:Ottakars
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964:Tsutaya
534:Mustoes
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285:Founder
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413:Owner
376:Books
201:JSTOR
187:books
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925:East
918:Asia
851:2021
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799:help
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589:The
301:Fate
280:1987
173:news
1211:AKO
571:HMV
555:HMV
458:HMV
417:HMV
156:by
94:by
1449::
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