Hachette Book Group’s Acquisition Spree Continues (publishersweekly.com)
At the end of 2020, the Hachette Book Group was the fourth-largest trade publisher in the country, with estimated annual sales of roughly $700 million. When the acquisition of Simon & Schuster—the third-largest trade publisher—by #1 trade publisher Penguin Random House is finally completed, HBG will move into the third spot. Last week, HBG took a major step to ensure that it will assume S&S’s position as the largest trade publisher behind PRH and HarperCollins, with its agreement to acquire Workman Publishing for $240 million. One of few remaining independent publishers of its size, Workman had sales of $134 million last year, and its addition will get HBG revenue over the $800 million level.