HarperCollins Publishers on Wednesday announced that it will acquire Egmont Books UK Ltd., as well as the Nordic media group's book business in Poland and Germany.
The deal, terms of which were not disclosed, is set to complete on April 30, a statement said, adding Egmont's magazine publishing is not part of the transaction and is retained by Egmont Publishing.
Egmont Publishing is owned by Egmont and focuses on award-winning content and platforms within film, television, streaming and cinema over gaming, e-commerce and marketing services to educational platforms, magazines and books.
Egmont Publishing is behind a wide range of popular magazine titles and books in more than 20 countries, and global licensing partnerships with a range of brand owners including Disney, Mattel, Hasbro, Mojang and Roblox.
On completion, Egmont Books UK will be run as a distinct children's division led by the managing director of Egmont UK, Cally Poplak.
Poplak will join HarperCollins UK Executive Committee, and will report to Charlie Redmayne, CEO, HarperCollins UK, the statement said.
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The division will maintain its publishing autonomy and will remain in its offices for the immediate future.
In Germany, Schneiderbuch will integrate into the children's books group reporting to Carina Mathern, Editorial Director of HarperCollins Germany Children's books who reports to Juergen Welte, MD HarperCollins Germany, and Egmont Books Poland will report through Agnieszka Baranska, MD, HarperCollins Poland, the statement said.
Chantal Restivo-Alessi, CEO International Foreign Language and CDO, HarperCollins Publishers said, Egmont's expertise in the children's book market and position as a global player in licensed publishing, combined with HarperCollins global footprint will be the cornerstone for building and growing our worldwide strength in children's publishing.
According to Charlie Redmayne, CEO HarperCollins UK, The acquisition of Egmont will enable us to unlock the potential of licensed publishing across the broadest international reach.
Egmont Publishing CEO Torsten?Bjerre Rasmussen said it was ?a strategic decision to exit the children's book business in UK, Poland and Schneiderbuch in Germany.