Hachette Livre is pursuing its targeted acquisitions policy with the purchase of Piatkus Books in the United Kingdom and the acquisition of a majority stake in the capital of Escala Educacional in Brazil, following rapidly upon July’s acquisition of Patria Cultural in Mexico.
Piatkus Books, founded by Judy Piatkus in 1979, is a fast-growing publisher of popular novels and practical books that generated revenues of 12.7 million euros in 2006, thanks in particular to such worldwide best-selling authors as Nora Roberts and David Allen. Piatkus Books is a division of Little, Brown, a subsidiary of Hachette Livre UK.
Escala Educacional, founded four years ago by Hercilio de Lourenzi, who continues to hold a 49% stake, is a Brazilian publishing house specializing in textbooks. It has successfully gained significant market share in government orders in a country that is the leading market for books in Latin America. Its revenues amounted to 10 million euros in 2006. Escala Educacional becomes a subsidiary of Anaya, a leading player in the educational market in Spain and a wholly owned subsidiary of Hachette Livre.
These two acquisitions, following closely upon the heels of the acquisition of Mexico’s Patria Cultural, are in line with Hachette Livre’s strategy of strengthening its presence in three major languages – French, English and Spanish – and of taking positions in countries experiencing rapid growth, while according a large measure of autonomy to the managers of the entities joining the group.
Hachette Livre, a wholly owned subsidiary of Lagardère SCA, is the publishing brand of Lagardère Publishing.