Earlier this summer Sourcebooks acquired Simple Truths, a nearly $10 million publisher you've probably never heard of -- and until recently, Sourcebooks founder and ceo Dominique Raccah had not heard of them either, even though Simple Truths is based a few blocks away from Sourcebooks in Naperville, IL. (They were brought together by a local magazine.)
One reason Simple Truths is little-known inside trade publishing, and a big reason Sourcebook was interested in the company, is that nearly all of their book sales are made directly, online through their own site and through corporate sales. Simple Truths publishes motivational and inspirational books around such themes as attitude, teamwork, leadership and making a difference. Started in 2005 by Successories founder Mac Anderson, the publisher reaches 1.2 million direct-sales customers and newsletter subscribers. Anderson and his staff are joining Sourcebooks as part of the deal -- which is the largest acquisition in Sourcebooks' history.
That direct-sales channel is a big reason for Sourcebooks' interest in the company, pairing with their other direct-to-consumer online initiatives such as the fast-growing Put Me In the Story (along with various book subscription offers). And, since Simple Truths has not previously sold their books through traditional trade channels, there is an easy route to expanding sales of their list of about 100 titles -- as well as expanding their list into other formats (ebooks, apps, audio, children's, calendars, and so on).
As Anderson confirms in the announcement, "Dominique's passion is contagious. She has built a great company of which we’re proud to be a part. Leveraging our content through their distribution channels will generate excellent growth opportunities." Raccah says in the release: "Mac is an extraordinary entrepreneur, and I'm excited by the growth potential in Simple Truths and Sourcebooks banding togethe. This purchase adds almost $10 million to our top-line sales and extends opportunities for Sourcebooks authors. It also creates new channel growth opportunities for initiatives like Put Me In The Story."