Last checked at 20 Mar 2020 07:00
20 March 2020
BLOOMSBURY PUBLISHING Plc
("Bloomsbury")
BLOOMSBURY ACQUIRES ZED BOOKS' ASSETS
Bloomsbury Publishing Plc ("Bloomsbury") announces today that it has completed the acquisition of certain assets of Zed Books Limited ("Zed" or the "Acquisition"), the London-based academic and non-fiction publisher. The consideration was £1.75 million, of which £0.875 million was satisfied in cash on completion and the remainder to be paid within 12 months. Zed will operate within Bloomsbury's Academic & Professional division and is expected to contribute approximately £0.8 million of revenue to Bloomsbury in its first year. The Acquisition is expected to break even in its first year, before reorganisation and acquisition costs, then be earnings enhancing thereafter, with improved profit following the integration of the business into Bloomsbury.
The acquired Zed titles are a good strategic fit with Bloomsbury's existing publishing lists, whilst strengthening its offerings in African Studies and Development Studies. With the combined lists of Zed and I.B. Tauris, Bloomsbury is now a leader in academic Area Studies publishing. The Acquisition also enhances Bloomsbury's Politics and International Relations list.
Jonathan Glasspool, Managing Director of Bloomsbury's Academic & Professional Division said:
"We are delighted to become the new guardian of the prestigious and progressive Zed list. The Zed programme aligns very well with our existing publishing within I.B. Tauris, and complements Bloomsbury Academic's publishing across a wide range of humanities and social science subjects. Over 40 years, Zed has built up a unique presence in African and Development Studies, an area we wish to grow. We greatly look forward to working with Zed's wonderful range of authors and partners."
Kika Sroka-Miller, Co-owner and Director of Zed Books said:
"Bloomsbury's recognition of the value of Zed's Global South focus comes at a pivotal historical moment. Moving the Zed list to Bloomsbury not only secures its long-term future and development, but greatly increases the global reach of the Africa and Development lists in particular, which has always been Zed's primary goal. Furthermore, Zed's ground-breaking Middle East, Gender and Sexualities, Race and Indigenous Politics lists fit well within Bloomsbury's broader publishing programme and crucially, the move ensures Zed's books remain independently published."
-ENDS-
For further information, please contact:
Bloomsbury Publishing Plc | +44 (0) 20 7631 5630 |
Nigel Newton, Chief Executive Penny Scott-Bayfield, Group Finance Director | |
Hudson Sandler | +44 (0) 20 7796 4133 |
Dan de Belder / Hattie Dreyfus | bloomsbury@hudsonsandler.com |
NOTES TO EDITORS
Bloomsbury Publishing Plc
Bloomsbury Publishing Plc is a global independent publisher across trade, specialist, professional, school and higher education markets. Its Academic division has grown rapidly since its inception in 2008, publishing around 1,800 titles per year and specialising in the arts, humanities and social sciences. It leads the field in innovative publishing, with a fast growing portfolio of digital resources, including Bloomsbury Collections, which delivers instant access to quality research with more than 6,000 titles across the humanities and social sciences delivered to universities, scholars and students around the world.
Its I.B. Tauris imprint includes Bloomsbury's market-leading list in Middle East Studies as well as a rapidly growing Politics and International Relations list. It includes books by leading authors such as 2019 Parliamentary Book Award winner Rachel Reeves, constitutional expert Vernon Bogdanor, Far-Right Extremism researcher Julia Ebner and Basic Income campaigner Guy Standing.