Bloomsbury Publishing has completed the sale of Fairchild Books today for $6.5 million dollars. Fairchild is well known for the production of educational resources and textbooks geared towards fashion, retailing, and interior design.
In a statement, Bloomsbury said the acquisition will “bolster Bloomsbury’s US presence and raise its profile through an association with a leading brand in a market niche where it is already well established. Fairchild Books’ renown as a textbook publisher will create synergies with complementary products published under the Berg imprint that are aimed at more advanced students and researchers.”
Bloomsbury is probably best known for publishing the Harry Potter series and earned around $165 million dollars in 2011 through its sales. The reason why this deal to pick up Fairchild is awesome is because Bloomsbury already has a solid revenue stream through academic titles. Last year they generated $52.5 million from them and accounted for 21% of the company’s total sales. The company’s acquisition could bolster their portfolio another million dollars or more each year because they are in a better position to monetize the company more then Condé Nast did.