Hachette Book Group is acquiring Workman Publishing Company in a $240 million deal, The New York Times reports.
The acquisition, which will be subject to approval by the federal government, is the latest in a long string of mergers in the publishing industry. It would give Hachette the publishing rights to many of Workman’s most popular books, including bestsellers such as What to Expect When You’re Expecting, The Silver Palate Cookbook, and Carrots Love Tomatoes.
Workman was founded in 1968 by Peter Workman. Its imprints include Algonquin Books, a literary press that publishes authors such as Kaitlyn Greenidge, Tayari Jones, and Julia Alvarez.
Hachette CEO Michael Pietsch praised Workman’s catalog, saying, “They are constantly thinking what do children want, what do readers want, what do gardeners want, what do cooks want, and coming up with ideas of their own.”
Pietsch told Publishers Weekly that he doesn’t plan to interfere with Workman’s business model. “They have a unique culture,” he said.
Workman CEO Dan Reynolds confirmedthat the publisher had been looking for a new owner for several years, and that Workman’s president, Carolan Workman, wanted to ensure that the publisher’s employees would be valued.
“[Carolan’s] #1 priority in finding a new home for the company…was the security of our employees, and we have found that with Hachette,” Reynolds told Publishers Weekly. “They understand what makes us tick.”
Michael Schaub is a Texas-based journalist and regular contributor to NPR.
