Bertelsmann acquires 100% ownership of RH Mondadori

Bertelsmann has today (5ytsigned an agreement to acquire Mondadori's equity stake in the Barcelona-based Random House Mondadori, and will now own 100% of shares in the Spanish and Latin American trade book publisher.

Random House Mondadori was formed in 2001 as a joint venture by Random House and Mondadori. The agreement is subject to approval by Spanish Anti-Trust authorities, but is expected to close before year-end.

Random House Mondadori will become part of the future new partnership with Pearson, Penguin Random House. Its corporate name will be changed in the "near future" to reflect the new ownership structure, though Núria Cabutí will continue as its chief executive officer. The local organisational structures in Spain, Argentina, Mexico, Colombia, Chile, and Uruguay under Cabutí, will be maintained, as well as the “editorial identities” of the respective publishing programmes, with the statement stressing that the company will have "a renewed commitment to bring its authors' books to the widest possible readership around the world".

Bertelsmann chairman and c.e.o. Thomas Rabe said: "By maximising its holding in Random House Mondadori, [Bertelsmann] is embracing an opportunity to significantly improve both its position in the Spanish book market and its access to the growing Spanish-language markets of Latin America. We are very grateful to Mondadori for our longstanding and successful partnership."  

Random House worldwide chairman and chief executive Markus Dohle said: “Random House will continue to provide our Spanish company with the creative, financial and technological resources to grow as a print publisher and become a leading Spanish-language e-book publisher. Núria Cabutí has instilled a corporate culture and standard of excellence at Random House Mondadori that is a perfect foundation for achieving this.”