Chief executive James Daunt, who has guided the retailer back to profit and will remain in post, hails the deal as testament to ‘old-fashioned bookselling’ Britain’s largest book chain, Waterstones, has been acquired for an undisclosed sum by the hedge fund Elliott Advisors. James Daunt, who has been chief executive of Waterstones since 2011 and who presided over an 80% jump in annual profits in the year to April 2017, will remain in his position following the sale, along with his “key leadership team”.