Bloomsbury expands academic division with £3.7m Macmillan Education imprint acquisition
A UK book publisher has announced that it has signed a deal for the £3.7m acquisition of an academic imprint.
Bloomsbury Publishing, known for the publication of the Harry Potter series of books, has agreed on the purchase of certain assets of Red Globe Press (RGP) from Macmillan Education.
The deal, which will see £2.1m paid on completion and up to £1.6m paid post-completion, will integrate RGP’s titles into Bloomsbury’s existing academic publishing division.
RGP reported £9.6m revenue last year, and Bloomsbury predicts that it will contribute approximately £6m in revenue to the business before the end of its financial year.
Nigel Newton, chief executive of Bloomsbury, commented: “We are delighted to acquire the Red Globe Press list. Red Globe Press aligns well with our existing academic publishing and provides a gateway to new and attractive academic publishing areas.
“This move is another key step in the delivery of our strategic growth strategy, and continues our drive to grow our Non-Consumer business.
“Acquiring these complementary lists accelerates our digital growth and our significant presence in humanities and social sciences academic publishing.”
Emma Bourne, managing director of curriculum and higher education at Macmillan Education, commented: “Following a strategic review of the business, we have decided to focus on our core markets of K-12 English Language Teaching and Curriculum.
“We are sure that Red Globe Press, its team of dedicated staff, and all its authors will flourish within Bloomsbury, where the imprint can continue to grow its excellent academic publishing.”
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