Penguin Random House Acquires Merchandise Company, Out of Print Clothing

Penguin Random House announced Wednesday that on June 1 they acquired Out of Print Clothing, a New York-based company that produces t-shirts as well as other clothing, accessories and home goods featuring book-cover art and literary-themed designs. In the announcement, PRH declares that the acquisition signals "its intent to greatly expand its author- and imprint-brand-based merchandising capabilities."

Out of Print Clothing co-founders Todd Lawton and Jeffrey LeBlanc -- one spent four years as a brand manager at Nike, the other worked at hedge fund Greenlight Capital -- will report to PRH vp, publishing innovation development Alison Rich, continuing to work out of their current Manhattan office. Terms were not announced, though in a late 2014 profile, Lawton and LeBlanc put their annual sales at "just north of $5 million." Founded in 2010, the company sells through over 1,000 bookstores and fashion, college, and gift retailers. In recent years, Out of Print Clothing has been a "strategic partner in various special projects and events" with PRH.

PRH evp, director, publishing development and author platforms Nina von Moltke says in the announcement, "Through their outstanding creativity and business-building Out of Print has created recognition and revenue for authors, illustrators, and publishers, and meaningful, fun experiences for readers. With their forward-thinking entrepreneurship, joyful collaborative spirit, and shared social values, they will be enthusiastically welcomed as new members of the Penguin Random House family. We are excited to grow Out of Print's business together with Jeff and Todd, in collaboration with our publishers, designers, and sales groups, as we provide our authors and retailers with many more literary merchandising opportunities."