Mar 3, 2016 3:07 PM
Perseus Books Group sells distribution arm to Ingram
The Associated Press
NEW YORK (AP) Two days after selling its publishing division to Hachette Book Group, the Perseus Books Group has agreed to a deal for Ingram Content Group to acquire its powerful distribution business.
Perseus and Ingram announced Thursday that they expected the transaction to clear, pending regulatory approval, by the end of the month.
The Hachette and Ingram purchases continue a long-term trend of consolidation in the book business. Hachette and Perseus are two of the leading publishers and Ingram, already a top distributor, will soon handle business for hundreds of independent publishers.
In 2014, Hachette had hoped to purchase both divisions of Perseus, owned by the private equity firm Centre Lane Partners LLC, then sell the distribution side to Ingram. The three-way deal fell through.