Penguin Random House India acquires Hind Pocket Books

PenguinPenguin Random House India has acquired Hind Pocket Books, one of the oldest and most respected Hindi language publishers in the country.

Established in 1958, Hind Pocket Books are widely considered as pioneers in publishing Hindi and Urdu paperbacks in India, and have an extensive list of critically acclaimed and commercially successful titles. They have published some of the most renowned authors from the subcontinent and across the world, including Amrita Pritam, Shivani, Acharya Chatursen, Gulshan Nanda, Narendra Kohli, Khushwant Singh, R K Narayan, Dr Radhakrishnan, Dominique Lapierre, Osho, Thich Nhat Hanh, Ruzbeh Bharucha, Wayne Dyer, to name a few, and their titles and authors have won several prestigious awards, including the Nobel Prize, the Sahitya Akademi Awards, and the Jnanpith Award.

Markus Dohle, Chef Executive Officer Penguin Random House said, “We are thrilled to welcome Hind Pocket Books to the Penguin Random House global family of publishers. Our operations in India have been a success story for us, and this acquisition represents our commitment to expand our local-language publishing as we continue to implement our global strategy of growing in our key markets such as India”.

India, Haryana & New Delhi

 

Aurelius acquires Connect Group’s Books division for £11.6M

Aurelius EquityAurelius Equity Opportunities the pan-European mid-market investor, has bought Connect Books from the specialist distribution company Connect Group Plc for £11.6 million. The sum includes an expected deferred consideration of £1.05 million.

Connect Books is a multi-channel wholesaler, distributor and retailer of printed and digital books, with operations in UK, the Netherlands, and France. The business has projected revenues of approximately EUR 250 million for 2017. The transaction is subject to the approval of the competition authorities and is expected to close in January 2018.

Connect Books is comprised of the six distinct brands Bertram Books, Wordery, Dawson Books, Erasmus and Houtschild, and Bertram Library Services. On completion, Connect Books will be rebranded back to Bertram Group.

Dirk Markus, CEO of Aurelius, commented: “We are very pleased to announce our acquisition of Connect Books, an established, global business and one of the market leaders in its sector. This acquisition is a further demonstration of AURELIUS’ position as a preferred partner for corporates seeking a complex carve-out of a non-core business”.

Germany, Munich & UK, London

Bertelsmann and Pearson in talks about combining their publishing divisions

The FT and others are reporting that Bertelsmann and Pearson are in talks about combining their Penguin and Random House publishing divisions and that the discussions have focused on a merger in which Bertelsmann would have a stake of more than 50 per cent.

Pearson have issued the following statement. “Pearson notes recent media coverage regarding Penguin, its consumer publishing division, and Random House (part of Bertelsmann). Pearson confirms that it is discussing with Bertelsmann a possible combination of Penguin and Random House. The two companies have not reached agreement and there is no certainty that the discussions will lead to a transaction. A further announcement will be made if and when appropriate.”

UK, London & USA, New York, NY

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Bloomsbury Publishing announces results for the six months ended 31 August 2012

Bloomsbury Publishing Plc has announced its six month results for the period ended 31 August 2012.

Financial highlights

  • Turnover £43.5 million (2011: £42.4 million) +2%
  • Profit before taxation and highlighted items* £2.1 million (2011: £3.3 million) -37%
  • Profit before taxation £0.9 million (2011: £1.5 million)
  • Interim dividend 0.94 pence per share (2011: 0.89 pence) +6%
  • Basic earnings per share before highlighted items* 2.20 pence (2011: 3.27 pence)
  • Basic earnings per share of 0.87 pence (2011: 1.45 pence)

Note: All the above highlights are stated on a Continuing basis ie they exclude the results of Bloomsbury’s German subsidiary, Bloomsbury Verlag, which was treated as discontinued in the accounts last year, following its sale in February 2012.

Acquisitions

Commenting on the results, Nigel Newton, Chief Executive, said:

“The Group continues to make good progress. We have acquired two new businesses further boosting our presence in the academic market, particularly in the USA, and have launched our own sales and publishing operation in India, a market which has the potential to become one of the largest English language book markets in the world.

Higher ebook sales and academic turnover continue to increase the weighting of our sales to the second half. In addition we have a strong second half list, including potential best sellers, and are targeting a significant number of rights and services contracts.  We remain well positioned for the future and results continue to show a positive trend over the longer term.”

UK, London

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