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Bloomsbury acquires visual arts publisher
02.07.12 | Charlotte Williams
Bloomsbury has completed the purchase of creative publishers Applied Visual Arts Publishing (AVA) for CHF2.8m, or close to £1.7m, further boosting the publisher's visual arts programme.
AVA publishes between 20 and 30 books a year for students and professionals in the applied visual arts, and had a turnover of £1.8m for the year ended 31st December 2011. The company was established in 2001 in Switzerland, with an English-language editorial support office in Worthing.
Bloomsbury will pay for the publisher from existing cash balances in three equal annual instalments, starting from today (2nd July).
Bloomsbury head of visual arts Kathryn Earle will manage the new acquisition, which will be part of Bloomsbury's academic and professional division.
Bloomsbury c.e.o. Nigel Newton said: "As part of Bloomsbury's ongoing strategy to build our academic and professional division, we are delighted to have acquired the AVA list and the timing could not be better.
"We already have a very strong presence in visual arts, which has been considerably enhanced by the recent acquisition of Fairchild Books. We are pleased to be able to follow on from the Fairchild Books acquisition so quickly with this acquisition, and to consolidate our textbook publishing in the visual arts.
"An added bonus is that we will be able to take advantage of new co-edition opportunities."
AVA UK m.d. Caroline Walmsley called Bloomsbury the "perfect home" for the AVA list, and said: "We are very excited to be in such a strong position to move the AVA business and to become part of Bloomsbury."