Hachette Book Group in deal to acquire Workman Publishing
NEW YORK (AP) — The publisher of such bestsellers as the “What to Expect” books for parents and the “Brain Quest” educational series has reached an agreement to be acquired by Hachette Book Group.
Workman Publishing has been an independent company for decades, and also includes the literary imprint Algonquin and the nature publisher Timber Press. Hachette is one of the world’s largest book publishers, with authors ranging from Donna Tartt and James Patterson to J.K. Rowling and David Sedaris.
The acquisition will be subject to approval from the Department of Justice.
“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,” Carolan Workman, executive chair and president of Workman, said in a statement Monday. “I truly believe that our two companies will thrive together in this partnership.”
Hachette CEO Michael Pietsch said in a statement that he had long admired Workman, “marveling at the spirit of innovation that drives their business, their strong brand franchises, their focus on backlist, the work culture they have nurtured, and the outstanding reputation they have established among authors, agents, booksellers, and the media.”
Monday’s announcement continues a long-term trend of publishing consolidation, with recent moves including Penguin Random House’s plan to purchase Simon & Schuster and HarperCollins’ agreement to buy Houghton Mifflin Harcourt’s trade division.