CJK Group has acquired Worzalla, a printer in Stevens Point, WI, whose projects have included the bestselling Wimpy Kid series. With approximately 340 employees, Worzalla has been in operation since 1892. The group’s main facility will be renamed Sheridan Worzalla. CEO of CJK Group Chris Kurtzman said in a release, “Worzalla has a tremendous market reputation and a well-defined niche in the children’s and trade book publishing markets. The addition of the Worzalla operation expands the spectrum of printing services for Sheridan’s clients, nicely augmenting our current strengths in the trade, education, academic, religious, and automotive publishing markets.” Earlier this […]
M&A
Acquisitions: Harriman House, and Scala
UK publisher Pan Macmillan has acquired business book publisher Harriman House. Harriman House will operate as its own imprint, with managing director Myles Hunt continuing to lead. Founders Philip Jenks and Stephen Eckett have left the company, but the 12-person staff will remain on. Pan Macmillan ceo Joanna Prior told The Bookseller, “I am delighted that we have come to an agreement to acquire Harriman House. It is a terrific company, publishing with entrepreneurial flair for a dedicated business market globally. We will help expand its overseas reach further, building on its already impressive growth in the US, and I […]
Klopotek Sells Majority Stake to Aspire Software Owner
ERP solutions company Klopotek has sold a majority stake in their business to Canada-based Valsoft, whose holdings include Aspire Software. Founder and ceo Ulrich Klopotek von Glowczewski will “step down from all his roles effective immediately due to personal reasons.” CTO and co-ceo Peter Karwowski will take over as ceo. Operating partner of Aspire Software Rafael Mazzeo says in the announcement, “The acquisition of Klopotek aligns seamlessly with their mission to remain at the forefront of the publishing technology domain, equipping publishers with advanced tools and solutions to navigate the evolving landscape successfully. The world class management team at Klopotek […]
KKR To Acquire S&S For $1.62 Billion
KKR officially announced after the close of the stock market on Monday that they will acquire Simon & Schuster from Paramount, for $1.62 billion, in an all-cash transaction, pending regulatory approval. S&S will become a standalone private company with Jonathan Karp remaining as president and ceo and Dennis Eulau continuing as coo and cfo. “All of the executives at Simon & Schuster who met with KKR came away from those conversations impressed with the depth of KKR’s interest in our business and their commitment to helping us grow, thrive and become an even stronger company,” Karp said in a release. […]
KKR Tipped As Likely Acquirer of Simon & Schuster For “About $1.65 Billion”
Private equity firm KKR has long been considered the leading contender among bidders for Simon & Schuster and the WSJ reports late Thursday that the investment firm is in “advanced talks” to buy the publisher, “for about $1.65 billion, according to people familiar with the situation.” KKR is believed to have bid the first time S&S was up for sale in 2020 as well, though the underbidder then was Vivendi — which had not secured control of Lagardere at the time. Harper Collins ceo Brian Murray testified last August that their bid in 2020 “was not close” to Bertelsmann’s $2.175 […]
August Auguries: The S Stands for Sale
Coming truly full circle, the latest round of bids for Simon & Schuster were due on Tuesday, August 1 — on the one-year anniversary of the beginning of the antitrust trial in which DC District Court Judge Florence Pan wound up enjoining the planned $2.175 billion sales of S&S to Penguin Random House. While it was a major event in book publishing, history will remember August 1, 2023 at the same E. Barrett Prettyman Courthouse instead, since that is the day that former president Donald Trump was indicted on four counts connected to his attempts to overturn the results of […]