Acquisition to include segment-leading assets and brands such as the Betty Crocker series, Better Homes and Gardens line, and Mark Bittman’s How to Cook Everything franchise
Houghton Mifflin Harcourt (HMH) today announced that its Trade &
Reference division has acquired the assets of John Wiley & Sons, Inc.’s
(NYSE: JWa, JWb) culinary portfolio, in addition to classic reference
titles Webster’s New World Dictionary andCliffsNotes.
Wiley’s celebrated cookbook collection includes the flagship Betty
Crocker series, in addition to other General Mills-branded lines, the Better
Homes and Gardens line licensed from Meredith Corporation, Mark
Bittman’s How to Cook Everything franchise – including the
bestselling culinary app for iOS, and high-profile authors such as Rose
Levy Beranbaum, Marcus Samuelsson and Ellie Krieger. This acquisition
will complement HMH’s premier authors and cookbooks, including Jacques
Pépin, Dorie Greenspan, The Gourmet Cookbook and the Hello,
Cupcake! franchise.
“This strategic acquisition reflects HMH’s continued commitment to
consumer publishing, and represents an exciting growth opportunity
within the culinary market. Even as digital sales increase, the print
cookbook segment shows particular strength, both at HMH and within the
market in general,” said Gary Gentel, President of HMH’s Trade &
Reference division. “The combination of Wiley’s culinary, reference, and CliffsNotes lines
with our existing business will significantly strengthen HMH’s market
position in both the culinary and reference categories.”
Webster’s New World Dictionary is a dominant force in the back to
school market, and Webster’s New World College is the
dictionary of choice for the New York Times and the Associated
Press. Together with HMH’s American Heritage family of
dictionaries, the company’s reference offerings will expand
significantly.
At HMH, CliffsNotes will continue its robust program of
test-preparation and literature study guides for high school and college
students. CliffsNotes.com, which maintains over two million unique
visitors per month, will also migrate to HMH. This will reinforce the
company’s deep strength in test preparation and assessment services,
complementing its role as the largest provider of K-12 educational
materials in the U.S.
“We believe that HMH is well-positioned to provide the strategic focus
required for these assets to achieve their full potential and continue
to flourish,” said Mark Allin, Wiley’s Senior Vice President,
Professional Development. “While these assets have contributed to
Wiley’s success to date, Wiley is reshaping its portfolio to support
growth opportunities in our Professional Development; Scientific,
Technical, Medical, and Scholarly; and Global Education businesses, and
create products and services that help customers become more effective
throughout their education and careers.”
Natalie Chapman, Vice President and Publisher at Wiley, is joining HMH
to manage the entire culinary program, reporting to HMH General Interest
Group Senior Vice President and Publisher Bruce Nichols. A number of
Wiley editorial, marketing, publicity, and production staff are also
joining HMH as part of the acquisition. As part of the new HMH culinary
program, HMH Senior Executive Editor Rux Martin will also launch her own
imprint, Rux Martin Books.
About Houghton Mifflin Harcourt
Houghton Mifflin Harcourt is a global learning company with the mission
of changing lives by fostering passionate, curious learners. Among the
world’s largest providers of pre-K–12 education solutions and one of its
longest-established publishing houses, HMH combines cutting-edge
research, editorial excellence and technological innovation to improve
teaching and learning environments and solve complex literacy and
education challenges. HMH’s interactive, results-driven education
solutions are utilized by 60 million students in 120 countries, and its
renowned and awarded novels, non-fiction, children's books and reference
works are enjoyed by readers throughout the world. For more information,
visit www.hmhco.com.
About Wiley
Wiley is a global provider of content-enabled solutions that improve
outcomes in research, education, and professional practice. Our core
businesses produce scientific, technical, medical, and scholarly
journals, reference works, books, database services, and advertising;
professional books, subscription products, certification and training
services and online applications; and education content and services
including integrated online teaching and learning resources for
undergraduate and graduate students and lifelong learners.
Founded in 1807, John Wiley & Sons, Inc. (NYSE: JWa, JWb), has been a
valued source of information and understanding for more than 200 years,
helping people around the world meet their needs and fulfill their
aspirations. Wiley and its acquired companies have published the works
of more than 450 Nobel laureates in all categories: Literature,
Economics, Physiology or Medicine, Physics, Chemistry, and Peace.
Wiley's global headquarters are located in Hoboken, New Jersey, with
operations in the U.S., Europe, Asia, Canada, and Australia. The
Company's website can be accessed at http://www.wiley.com.
