Smiths News PLC is to change its name to Connect Group to reflect the diversification of its business away from newspaper and magazine wholesaling.
The company will operate under three divisions – Connect News and Media covering news wholesaling and international media direct; Connect Books combining Bertrams, Dawson Books and Wordery; and Connect Education and Care including The Consortium and West Mercia Supplies.
Its newspaper and magazine wholesaling operating business will continue to be called Smiths News, falling under its Connect News and Media division.
The name change will come into force on 22 April.
“Since becoming an independent company in September 2006, the group has made substantial progress transforming from a pure newspaper and magazine distributor to a larger and more diversified business,” the company said in a statement.
“The change in name both reflects our progress to date and ambition for the future, to succeed by connecting suppliers and customers in an efficient, knowledgeable and service-oriented way.
“Connect Group’s strategic ambition remains to deliver 50% of operating profit from outside of newspaper and magazine wholesaling by 2016,” it added.
CEO Mark Cashmore said the new name was a “landmark change” for the group.
“This change will allow us to retain our existing brands and their customer relationships while providing a clear and unifying structure to the organisation as we continue to enhance shareholder value,” he added.
Meanwhile, Smith News MD Jonathan Bunting has moved to reassure customers that they will see no change in the day-to-day running of Smiths News.
“I would like to assure our customers and suppliers that their service will be unaffected,” he said.
”The name change only affects Smiths News PLC. We have a strong brand with a prestigious heritage which goes back over 200 years, and for us, it’s business as usual.”
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