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The landscape of mergers and acquisitions in trade publishing during 2024 largely aligned with industry expectations. While the year did not see any landmark billion-dollar transactions akin to KKR’s notable acquisition of Simon & Schuster in 2023, several significant deals emerged, revealing key trends in the market.
At the Big Five
In 2024, none of the Big Five publishing houses became acquisition targets; however, four of them engaged in notable acquisitions. Simon & Schuster (S&S) shifted its status from target to acquirer, making two significant purchases aimed at bolstering its international presence. In May, S&S acquired Veen Bosch & Keuning, the Netherlands’ largest publishing house, although the financial details remained undisclosed. With a workforce of 280, VBK publishes around 1,500 titles each year. Later, in August, S&S Australia completed its acquisition of the independent Melbourne-based publisher Affirm Press, renowned for its catalog of about 750 books and the annual release of 100 new titles.
Penguin Random House (PRH) completed three acquisitions in the latter part of 2024. In July, PRH announced the acquisition of Boom! Studios, known for its contributions to comic books and graphic novels. Upon finalizing the deal, Boom! became a part of the Random House Worlds imprint. In November, PRH’s Penguin Publishing Group acquired the assets of Amber-Allen Publishing, a notable name in personal development literature and a distribution client of PRH since 2018. The Amber-Allen titles will continue to be published under their original branding despite the acquisition. Less than a month later, PRH’s Crown Publishing Group purchased Compendium, an illustrated book and journal publisher, ensuring that it retains its unique editorial stance post-acquisition.
Hachette Book Group also made headlines with a significant acquisition; it purchased the publishing division of Barnes & Noble in November, along with all associated assets and the extensive backlist of Union Square Publishing. This move enhances HBG’s portfolio significantly. Meanwhile, HarperCollins concluded the year by acquiring Germany’s Gräfe und Unzer, a respected publisher of guidebooks, extending its international reach. CEO Brian Murray expressed the continuation of strategic expansion, highlighting the importance of scale amid competition from major players like Amazon and Spotify.
Midsize Houses Build Out
Smaller, midsize publishing houses were also active in the M&A space in 2024. U.K.-based Bloomsbury Publishing demonstrated its interest in expanding within the U.S. market by acquiring Rowman & Littlefield’s professional and academic division for $83 million in May, bringing Bloomsbury closer to $300 million in annual U.S. sales and total revenues nearing $500 million.
Abrams Books, owned by French company Média-Participations, expanded its catalog by acquiring Taunton Books, adding 900 titles that enhance its offerings in crafts, food, and gardening, while also branching into homebuilding and woodworking. In another notable acquisition, Rizzoli International Publications bought Chelsea Green Publishing for about $5 million in April, enabling it to publish environmentally and politically focused titles, enhancing the imprint’s portfolio.
Pushkin Press, based in London, was another foreign publisher aiming to increase its footprint in the U.S. It acquired Steerforth Press and its sister entity, Hanover Publisher Services, merging them under a new unified brand. This acquisition also retained the talents of Steerforth co-founder Chip Fleischer. Additionally, Arcadia Publishing in South Carolina was active, purchasing Belt Publishing in February and the independent children’s publisher Dry Climate Studios in May.
Blue Star Press, an independent publisher from Oregon, strengthened its position by acquiring Sasquatch Books, enriching its catalog by over 1,000 titles. After divesting its professional division to Bloomsbury, Rowman & Littlefield further streamlined its focus by selling Sundance Newbridge Publishing to Lerner Publishing in September. This was followed by another acquisition, when Lerner announced plans to acquire Soaring Kite Books, enhancing its children’s book offerings significantly.
Other Book Business Deals
In the audiobook market, RBmedia, which changed hands in 2023, made a strategic acquisition by buying Dreamscape Media, adding significantly to its catalog. This came after acquiring Berrett-Koehler’s audiobook division earlier in the year. Meanwhile, Mackin Educational Resources expanded its reach in educational wholesaling through the purchase of Booksource, enhancing its offerings in print and digital titles for educational settings.
Valsoft Corporation, a software firm based in Montreal, acquired Above the Treeline in November. Through this acquisition, Valsoft increased its capabilities in digital book cataloging and marketing—Edelweiss, the platform developed by Above the Treeline, serves as a vital resource for publishers and booksellers in managing their inventories.
In the retail sector, Barnes & Noble made a strategic move by acquiring the Tattered Cover bookstore chain for $1.83 million, ensuring the continuity of the Denver-based chain’s operations and staff. Internationally, Booktopia, the Australian online bookseller, was sold to DigiDirect, while in Germany, the bookselling chain Weltbild ceased operations, with its assets acquired by rival Thalia.
Looking ahead, the outlook for M&A activity in 2025 seems to mirror that of 2024, with a lack of blockbuster transactions anticipated but a series of niche acquisitions expected as companies, large and small, seek to consolidate resources in a challenging market.
A version of this article appeared in the 01/06/2025 issue of Publishers Weekly under the headline: Consolidation Games
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