HarperCollins to acquire Egmont Books UK
HarperCollins has announced its intention to acquire Egmont Books UK, as well as Egmont’s book businesses in Poland and Germany, reports the Bookseller.
The transaction is for an undisclosed sum and is set to be complete on 30 April. Egmont Books UK will be run as a distinct children’s division led by current managing director Cally Poplak, who will join HarperCollins’ UK executive committee.
Egmont CEO Torsten Bjerre Rasmussen said the company made a ‘strategic decision’ to exit the children’s publishing market in the three countries.
HarperCollins CEO Charlie Redmayne said the acquisition will give the company the opportunity to ‘unlock the potential of licensed publishing across the broadest international reach’.
Redmayne said: ‘We look forward to welcoming Cally and her team, and of course Egmont UK’s exceptional list, which includes iconic names such as Winnie-the-Pooh, Thomas the Tank Engine, Tintin and Mr Men, to HarperCollins UK.’
Troy Lewis, managing director of Egmont’s Australian joint venture with Hardie Grant, confirmed to Books+Publishing that Hardie Grant Egmont is not involved in the transaction.
According to the Bookseller, the deal will create what is likely to be the biggest UK children’s publisher in terms of market share.
Category: International news