The privately-held MBS Textbook Exchange, majority owned by Len Riggio and other Riggio family members, has been sold to Barnes & Noble Education — which also used to be privately owned by the Riggio family, and where the Riggios currently hold about 16 percent of shares — for $174.2 million in cash. For the fiscal year ending August 31, 2016, MBS had sales of $500 million and EBITDA of approximately $54.7 million. BNED management expects the purchase to be accretive to earnings in fiscal 2018 and “deliver operational synergies over time.” A used textbook wholesaler, which also sells new and used […]
