Bloomsbury’s latest strategic acquisition is professional and academic publisher Tottel, based in the UK and Ireland, to be bought for 9.96 million pounds. They will rename the unit Bloomsbury Professional.
In the fiscal year ending in February, Tottel had sales of 6.25 million pounds, operating profit of 0.93 million pounds, and EBITDA of 1.19 million pounds.
The company says: “Bloomsbury has identified academic and professional publishing as a growing niche sector. The proposed acquisition of Tottel fulfils a strategic objective of Bloomsbury in pursuing opportunities in this market and follows from the acquisitions of Methuen, Berg Publishers, and The Arden Shakespeare and the set up of Bloomsbury Academic. Bloomsbury now has a solid platform in this sector and will continue to expand by exploring further strategic acquisitions.”