Booktopia Group Limited (ASX:BKG) entered into a non-binding agreement to acquire 25% stake in Welbeck Australia from Welbeck Publishing Group Ltd for AUD 3 million on July 22, 2021. WPG Founder and Director Mark Smith will relocate to Australia in early 2022 to assist with the establishment of the business and the recruitment of key publishing and operations staff. Fellow WPG Executive Director Marcus Leaver will also base himself in Sydney for parts of each year. The management team of the new Sydney business will be announced shortly. The transaction is expected to close on September 30, 2021.