2023 was the year of “finally” in mergers and acquisitions, as two long-in-the-making deals involving some of the largest trade publishers finally closed. Simon & Schuster was sold to KKR three-and-a-half years after their parent company started the sale process. And Lagardere (parent of Hachette Book Group and the rest of Lagardere Publishing) is finally controlled by Vivendi, two years after the latter launched their tender offer to acquire Lagardere, and three-and-a-half years after first buying a stake in Lagardere. In order to take control of Lagardere, Vivendi finally had to divest of Editis — after trying other options — […]
Finance
Lerner Acquires Gecko Press
Lerner Publishing Group has acquired New Zealand children’s book publisher Gecko Press, for an undisclosed sum. Gecko has been distributed by Lerner in the US for the past 13 years, and will operate as an international imprint. Starting January 1, Lerner will handle fulfillment, customer service, and general publishing and business management for Gecko worldwide. The company will continue to acquire from New Zealand, and it will keep its distribution partnerships with Bounce in the UK and Walker Books in ANZ. Under the new organization, Gecko plans to launch 18-20 new titles in 2024. Gecko associate publisher Rachel Lawson will “oversee […]
Top Pearson Shareholder Wants Stock Relisted in US
Activist investor Cevian Capital, which owns more than 12 percent of Pearson’s shares, has a magical solution to increase the company’s stock: Move the listing from London to New York. Cevian managing partner Christer Gardell tells Bloomberg, “To change the listing is an easy and effortless way to increase the value of a company.” He reasons, “As most of the competition is based in the US, we see an upside to the share of 30-40 percents from a relisting.” Pearson does trade on the New York Stock Exchange through an American depositary receipt listing. A Pearson spokesperson said they are […]
Penguin Random House Acquires Hay House
Penguin Random House continues to expand, acquiring mind-body-spirit, self-help, health and wellness publisher Hay House, for undisclosed terms. Long self-distributed, Hay House moved their distribution to PRHPS in 2018. They have a backlist of over 1,500 titles. Hay House ceo Reid Tracy will continue to run the operation, and “no changes are planned for its Carlsbad, CA, New York, and London offices, or its management and employees.” The company was founded in 1984 by Louise Hay, author You Can Heal Your Life. Tracy says in the announcement, “I am excited to remain at the helm of Hay House in partnership […]
Acquisitions: The Taunton Press
The Taunton Press has been acquired by “enthusiast media company” Active Interest Media. AIM president at ceo Andrew Clurman said in a release, “AIM and Taunton are closely aligned on several important fronts. While the symmetry of many of our core markets is obvious; woodworking, gardening, and homebuilding; there are many other similarities. Strategically, like AIM, Taunton has been aggressively pursuing the creation of new digital products, memberships, and online learning to better serve their audiences. Most importantly, Taunton shares with AIM a commitment to growing and promoting both the communities we serve, and our fantastic teams dedicated to that […]
Leaver Unveils New Publishing Group
Marcus Leaver has announced the launch of his new company, Gemini Books Group. The goal is to “build a publishing business focused on the UK and North American markets through the acquisition of established companies and by incubating start-up businesses in scalable areas of the market.” Gemini has acquired Imagine That!, Palazzo Editions, Ad Lib Publishers, Mardle Books and Pimpernel Press. Managing director of Palazzo and Mardle Jon Rippon serves as group finance director of Gemini and sits on the board. Leaver says in the announcement, “I look forward to working with Jon to build a publishing business where we […]