Borders sold for $130 million

Borders Parramatta store, along with others in the bookseller’s chain, have been purchased in a deal worth an estimated $130 million by A&R Whitcoulls, the private equity owner of competitor book retailer, Angus and Robertson, giving it more than 200 stores across Australia, and making it twice as big as Dymocks, its closest competitor. Borders, Dymocks and Angus & Robertson each have stores in Westfield Parramatta. The US-based Borders entered the Australian market 10 years ago.