The largest remaining independent book publisher achieves a robust valuation and secures company legacy
Hachette Book Group (HBG) has completed the acquisition of Workman Publishing Co., Inc. (WPC), one of the largest and most respected independently owned book publishers in the USA, for US$240 million. The transaction closed after successful completion of the regulatory approval process.
For over 50 years, WPC has published award-winning children’s books, cookbooks, parenting and pregnancy guides, and books on gardening, country living and humor, as well as gift books, fiction, audio books and the bestselling calendar line in the business.
When Peter Workman launched our quirky little company over a half-century ago, it marked the beginning of a bold and joyful voyage. All these many years later, when I recognized that the time had come for Workman to have a new home, my first and foremost goal was to find a place where Workman’s unique culture could prosper long into the future, a place where we could nurture and protect our greatest assets: our authors, illustrators, and, most of all, our wonderful staff. I am so happy to be joining Hachette. They clearly respect not only what we are but who we are. I truly believe that our two companies will thrive together in this partnership.CAROLAN WORKMAN, EXECUTIVE CHAIR AND PRESIDENT, WORKMAN PUBLISHING CO., INC., USA
Oaklins found the best partner to expand the business
One of Oaklins’ TMT teams in New York acted as the exclusive financial advisor to the seller in this transaction. WPC was the largest independent publisher that had not yet been acquired by one of the larger publishers. We received multiple bids from buyers both domestic and abroad, which created an attractive competitive bidding process, with a French company ultimately winning the day.
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