Bloomsbury completes purchases of academic publisher ABC-CLIO 1

Bloomsbury completes purchases of academic publisher ABC-CLIO

Advertisement

Harry Potter publisher Bloomsbury completes purchase of American educational firm ABC-CLIO

  • Bloomsbury described the acquisition of the new firm as a ‘good strategic fit’
  • ABC-CLIO produces online curriculum and reference materials for US schools
  • The takeover comes six months after Bloomsbury also acquired Head of Zeus 


Advertisement

Bloomsbury has completed the £17.9million acquisition of Californian academic publisher ABC-CLIO.

The publishing house described the new purchase as a ‘good strategic fit’ that would boost its academic and digital publishing presence in North America, and bring in more international sales.

Advertisement

ABC-CLIO produces online curriculum and reference materials for US schools, universities and public libraries, and has four imprints, 32 databases and over 23,000 titles in its portfolio.

Branching out: Best known for publishing the Harry Potter books, Bloomsbury has now extended its reach into academic publishing by purchasing Californian firm ABC-CLIO

Branching out: Best known for publishing the Harry Potter books, Bloomsbury has now extended its reach into academic publishing by purchasing Californian firm ABC-CLIO

It was founded in 1955 as American Bibliographic Center by Eric Boehm with its first serial bibliography Historical Abstracts, before moving five years later to its current home city of Santa Barbara.

A year afterwards, there came the founding of CLIO Press, which was named after the Ancient Greek muse of history, and the group eventually moved into book publishing in 1967.

Advertisement

Last year, it made revenues of $14.7million (£11.5million) and pre-tax profits of $1.2million (£900,000) and is expected to produce another £2.1million of sales and £300,000 in the final two months of the current fiscal year.

Becky Snyder, the firm’s president, said: ‘Our family-owned company has had deep ties and commitment to its authors and customers and we believe that intellectual curiosity and educational achievement go hand in hand.

‘We are excited to be joining the team at Bloomsbury; a company we greatly respect and whose values and mission align with ours. 

‘We are excited about the opportunity Bloomsbury brings us, to significantly expand our reach in shaping education through innovative products that support research and learning.’

Advertisement
Bestseller: Bloomsbury Publishing has said one of its biggest-selling books this year has been Outdoor Cooking by chef Tom Kerridge (pictured)

Bestseller: Bloomsbury Publishing has said one of its biggest-selling books this year has been Outdoor Cooking by chef Tom Kerridge (pictured)

Bloomsbury’s latest acquisition comes six months after it bought Head of Zeus, which has published authors such as Victoria Hislop, historian Dan Jones and The Detective’s Daughter writer Lesley Thomson.

The coronavirus pandemic has been a boon for the Harry Potter publisher as people took advantage of lockdown restrictions on socialising and going outside to read more regularly at home.

Major bestsellers have included Tom Kerridge’s Outdoor Cooking, fantasy novel A Court of Silver Flames by Sarah J. Maas, We are Bellingcat by investigative journalist Eliot Higgins, and The Song of Achilles by Madeline Miller.

Advertisement

These titles helped the London-based group to record extremely strong half-year results showing its revenues rising 29 per cent year-on-year to a record £100million and pre-tax profits jumping 265 per cent to £11.1million. 

Bloomsbury also said the performance reflected the successful measures undertaken to minimise supply chain problems such as increasing stock levels and printing books far in advance of peak periods. 

About three weeks before the publication of those results, the firm scored another victory when one of its little-known novelists, Abdulrazak Gurnah, was awarded the Nobel Prize for Literature.   

Shares in Bloomsbury were 3.9 per cent higher at £3.45 during the early afternoon on Thursday, meaning their value have risen by around a fifth since the start of 2021.

Advertisement

Advertisement

Advertisement

Advertisement

Similar Posts