Bloomsbury US buys Fairchild Books

Bloomsbury's US subsidiary, Bloomsbury Publishing Inc, has completed the purchase of academic publisher Fairchild Books, acquiring the company for $6.5m (4m) from Fairchild Fashion Media. New York-based Fairchild publishes textbooks and educational resources for fashion, merchandising, retailing and interior design students. Its parent company is Fairchild Fashion Media, a unit of magazine publisher Cond Nast. Following the acquisition, the business will be managed by Kathryn Earle, Bloomsbury's head of visual arts, and will report in to Bloomsbury's Academic & Professional division. For the year ended 31st December 2011, Fairchild Books generated net profit before tax of $706,000 (440,797) and