Penguin Random House Germany has acquired German craft and guidebook publisher Frechverlag from Weka Group. Terms of the deal were not announced. It is subject to antitrust approval and will have “retroactive economic effect as of January 1, 2021,” according to a release. Frech will remain independently operated out of its Stuttgart office. It has approximately 80 employees who will stay at the company, which will continue to be led by Michael Zirn as managing director. “The advice sector is of major strategic importance to us,” PRH Germany ceo Thomas Rathnow stated in a release. “Frechverlag, with its successful programs […]
M&A
Hachette UK Acquires Kogan Page
Hachette UK acquired business book publisher Kogan Page, as of April 30. Founded in 1967, Kogan Page has a backlist of over 1,200 titles covering business, management, marketing, human resources, and professional development. The announcement notes that, “Kogan Page complements Hachette UK’s existing strengths and aligns with the longer-term strategy to diversify into specialist areas.” Kogan Page will operate as part of the John Murray Group where it will be maintained as a “distinct publishing brand within the division.” Founder Philip Kogan died in late 2022. In an obituary, the Guardian noted, “Independent of mind and spirit, he was determined […]
Callaway Attorney Says Company is Looking For a Buyer
At a bankruptcy court hearing on Wednesday, Nicholas Callaway continued to blame other people for his business failure, especially the one entity that was willing to loan him money. Bloomberg reports, “Getting loans from banks or other traditional lenders after the pandemic was difficult, Callaway said. The publisher borrowed $2 million from a foundation, but the loan included onerous terms that contributed to the bankruptcy filing, including a $1 million premium and penalties, he said.” The most recent court filings show a secured lien from the Hoffen Family Foundation, for $1.034 million. Callaway’s current attorney (multiple former attorneys are creditors) […]
Acquisitions: Red Wheel/Weiser Acquires Watkins Publishing
Red Wheel/Weiser has acquired Watkins Publishing, the flagship imprint of Watkins Media. Both companies are focused on mind, body, and spirit publishing. The transaction does not affect the company’s other publishing imprints (Angry Robot, Datura, Moon & Bird, Nourish and Repeater) or other properties. Distribution in the US will continue through PRH Publisher Services, and in the UK through Wiley, until June 30, 2026. Starting July 1, Mare Nostrum Group will handle UK and European distribution and Red Wheel/Weiser will oversee distribution in the US through its partnership with Books International and internationally through its partners. “There is a long […]
PRH Christian Acquires She Reads Truth
Penguin Random House Christian Publishing Group has acquired direct-to-consumer publisher She Reads Truth, for an undisclosed sum. She Reads Truth, which includes a podcast, app, website, social media channels, and subscription offerings, will become an imprint under the company’s direct-to-consumer arm, Grace Corner, and maintain its brand identity with co-founders Raechel Myers and Amanda Bible Williams, according to a release. “Since establishing our Christian Publishing Group, we have pursued a clear strategy to build on more than 30 years of leadership in this space—growing organically, through thoughtful acquisitions, and through the development of Grace Corner,” PRH cfo Manuel Sansigre said in […]
Globe Pequot Acquires Linden Publishing
Continuing their run of acquisitions, Globe Pequot has agreed to purchase California-based nonfiction publisher Linden Publishing. Advisory firm The Fisher Company negotiated the deal for Linden. “Linden Publishing has long been a cornerstone in the woodworking and crafts space,” Globe Pequot president Bob Marsh said in a release. “Their catalog aligns seamlessly with our existing strengths at Astragal Press and Stackpole Books. This acquisition allows us to deepen our presence in these categories while leveraging the rich backlist and intellectual property Linden has developed over decades. We see tremendous opportunity to expand these titles through new formats, merchandising, and cross-promotion […]