Mergers & Acquisitions

In a major deal in the bargain book business, Book Depot, the bargain book distributor based in Thorold, Ont., has acquired American Book Company headquartered in Knoxville, Tenn.

In a move to keep the publishing company independent, founder Sara Miller McCune has signed over her voting shares and company control to the SAGE-SMM Trust.

Oasis Family Media, which houses Oasis Audio, is expanding into print publishing with the acquisition of Enclave Publishing—an independent press focused on Christian fiction.

London-based Clarivate has completed its $5.3 billion purchase of ProQuest in a deal that creates a powerhouse in the library and information publishing market.

A newly formed investor group led by David Steinberger has acquired Open Road Integrated Media for a purchase price reported to be between $60 million and $80 million.

Teacher Created Materials has acquired Minneapolis-based Free Spirit Publishing for an undisclosed price. The purchase involves about 300 titles, most focused on social and emotional learning for young people.

Storytel, the international audiobook streaming company, is buying Audiobooks.com from KKR, owner of RBMedia, for an undisclosed amount. This marks the fast-growing company's entry into the English-language audiobook market.

Looking to accelerate its expansion into the audiobook market, the Swedish audio streaming subscription service giant Spotify has agreed to acquire Ohio-based digital audiobook distributor Findaway for an undisclosed price.

The makeover of Follett Corp. continues with the announcement that it has sold Baker & Taylor to a private investment company led by Aman Kochar, B&T CEO and president.

Independent Publishers Group has acquired U.K.-based United Independent Distributors. IPG CEO Joe Matthews called the deal a “game-changing acquisition,” and one that will make IPG one of the world’s largest book distributors for indie publishers.