Press Release: Bonnier Publishing Prepares for Further Growth in the US
NEW YORK — August 8, 2016 — Bonnier Publishing, the English-language book-publishing arm of Bonnier AB, today announces the formation of Bonnier Publishing USA as part of an ambitious program for growth led by Group CEO, Richard Johnson.
The new division will bring together Bonnier Publishing’s imprints in the USA: start-up publisher Little Bee Books based in New York, and veteran publisher Weldon Owen US, based in San Francisco, California.
Shimul Tolia, president of children’s imprint Little Bee Books has been promoted to CEO of Bonnier Publishing USA. Roger Shaw, president and publisher of Weldon Owen US, will continue to lead Bonnier Publishing USA’s West Coast operations, including its food, drink, and lifestyle imprints. Shaw will report into Tolia.
Little Bee Books was started in 2014 and will publish 150+ titles this year, growing this number to 175 in 2017. Weldon Owen US, founded in 1984, was absorbed by Bonnier Publishing in February from sister company Bonnier Corp., bringing the UK book group’s overall revenue to $180M.
To prepare for further growth, Bonnier Publishing USA will establish a new flagship office, relocating Little Bee Books from its current premises at 853 Broadway to a larger space at 251 Park Avenue South. The new space will be triple the size of the current office and will act as the division’s headquarters. Weldon Owen will remain at its offices in San Francisco with marketing and PR staff in the New York City office.
Shimul Tolia, CEO, Bonnier Publishing USA, said “This is an exciting time for us at Bonnier Publishing USA. We launched Little Bee Books in NYC with four employees in 2014 and have grown exponentially in just two years. Including the established Weldon Owen business, we now have a dynamic US company of over 40 employees. Our results over the last year demonstrate a strategy that is working and a strong foundation for growth. We can’t wait to relocate to our new offices in New York City and look forward to bringing more of our books to more people.”
Richard Johnson, Group CEO, Bonnier Publishing, commented: “We have risen from nowhere to be the 4th largest publisher in the UK and we intend to drive the same growth strategy in the USA in the coming years. Bonnier Publishing USA, headed by the hugely impressive Shimul Tolia, provides the perfect platform for this. Our combined US operation currently accounts for $40M of this and the plan is for growth in the USA to $100M by the end of 2019.”