Bloomsbury Publishing is set to acquire LexisNexis and Jordan family law publishing assets from RELX, subject to approval, for £1.4m.
The deal is part of a strategy to increase the proportion of non-consumer revenues to 50% and on completion of the deal Bloomsbury will own the rights to six family law titles, including Duckworth's Matrimonial Property & Finance and Hershman and McFarlane: Children Law and Practice.
Gross profits attributable to the titles, which are sold in loose-leaf print and digital formats, were £0.8m (on revenues of £1.1m) in the 12 months ending 31st March 2015, according to Bloomsbury.
The publisher will pay for the assets in cash in two instalments – one on completion of the deal and the second six months later. Completion is conditional on approval from the Competition and Markets Authority and is expected to take place in January 2016.
Bloomsbury will release its preliminary results for the full year ending 29th February 2016 on 19th May 2016 and said results for the year will depend largely on sales over the Christmas period.
December trading is “good so far” in the UK and Australia, with highlights being the success of The Silk Roads by Peter Frankopan, John Le Carre by Adam Sisman, Tom's Table: My Favourite Everyday Recipes by Tom Kerridge and sales of digital knowledge hubs to institutions, the publisher said.
In the children’s division, Bloomsbury singled out the success of the Illustrated Harry Potter and the Philosopher's Stone by J.K. Rowling with artist Jim Kay.