Denmark-based Egmont has agreed to buy Bonnier’s half of their jointly-owned publishing house in Norway, Cappelen Damm, for NOK 1 billion ($120 million). The company was formed in 2007 by the merger of Egmont’s Damm and Bonnier’s Cappelen. Cappelen Damm had sales in 2020 of NOK 1.3 billion ($156 million), with pre-tax profit of NOK 91 million. Egmont Books had sales from its other primary unit, Lindhardt & Ringhof in Denmark, of 63 million euros in 2020 ($72 million), so full ownership of Cappelen Damm will add significantly to their size. Egmont sold Egmont Books UK along with their book […]
