Sterling Publishing completed a deal to acquire London-based children’s book publisher Boxer Books. The acquisition includes all of Boxer’s backlist and frontlist titles. The imprint will keep its name under Union Square & Co., which previously distributed Boxer Books in the US. Boxer publisher David Bennett will continue to manage the imprint, reporting to Union Square cco and publisher Emily Meehan. “We are proud to be providing a new home for Boxer Books and publisher David Bennett. I’ve long admired his curated approach to children’s book publishing,” Meehan said in a release. “His titles explore imaginative ideas and concepts, all […]
M&A
Waterstones to Acquire Blackwell’s
Waterstones announced on Monday that it has entered a deal to acquire academic and specialist bookstore chain Blackwell’s, for an undisclosed sum, with funds advised by Elliott Advisors. Blackwell’s, which has 18 shops across the UK and operates Heffers in Cambridge, has been family-owned since 1879. The acquisition now brings Blackwell’s under the same ownership as Barnes & Noble and UK bookshop Foyles. “Blackwell’s and Heffers are amongst the most illustrious names in bookselling, a legacy for which we have the utmost respect,” Waterstones’ managing director James Daunt said. “We greatly look forward to working alongside the booksellers at Blackwell’s […]
Waterstones Reportedly Close to Deal with Blackwell’s
Waterstones is days away from finalizing a deal to acquire Blackwell’s, the Financial Times reports. A source says that the deal is expected to be in the “low, single-digit millions,” and it would likely be subject to regulatory approval. Blackwell’s ceo David Prescott “said the company was still in exclusive talks with a prospective buyer.” Like Foyles, which was bought by Waterstones in 2018, Blackwell’s will remain its own brand. Waterstones is owned by Elliott Advisors, which purchased Barnes & Noble in 2019.
M&A: Hachette Livre to Acquire Board Game Publisher
Hachette Livre has entered an agreement with shareholders to acquire a majority stake in independent French board game company La Boîte de Jeu. The company will lend its expertise in crowdfunding new projects through Kickstarter to the Hachette Boardgames division. Benoit Bannier “will remain at the helm” and Hachette Boardgames ceo Isabelle Jeuge-Maynart will become La Boîte de Jeu’s chairman. The sale is expected to be completed by the end of the month, subject to customary conditions precedent.
Vivendi Increases Lagardere Takeover Offer
As expected, Vivendi filed its official tender offer for the remaining shares of Lagardere on Monday with the French competition authority (Autorité des marchés financiers) for approval. The offer includes a new enticement to accelerate the completion of the deal: For Lagardere shareholders who elect to sell their stock immediately, through May 20, Vivendi will pay €25.50 a share, an increase of €1.40 a share over what they paid Amber Capital in December and are required to offer others. (The increased offer bundles in the proposed €.50 a share dividend that awaits approval at the company’s annual meeting, so effectively […]
Private Equity Firm Veritas to Acquire Houghton Mifflin Harcourt for $2.8 Billion
Houghton Mifflin Harcourt announced on Tuesday morning an agreement to sell the company to investment firm Veritas Capital for $21 a share, with Veritas paying approximately $2.8 billion. (At the end of their third quarter, the company had approximately $317 million in long-term debt.) Bloomberg first reported on the negotiations over the holiday weekend. The board says, “The decision to enter into an agreement with Veritas was the result of a deliberate and thorough strategic review process” that included “discussions with several potential strategic and financial bidders.” The transaction is expected to close in the second quarter. Bloomberg had reported […]