Bonnier Books has acquired a majority stake in Norwegian publishing group Strawberry Publishing AS.
It bought 70% of the firm's shares with Petter Stordalen and three other founders retaining 30% of the ownership. Operations will continue under the current name.
The company comprises two general publishing houses, Strawberry Publishing and Bastion Forlag. Both operate in the Norwegian book market, publishing fiction, non-fiction, children’s and youth literature.
Its acquisition includes authors like Sally Rooney, Jojo Moyes, Sophie Elise, Jørn Lier Horst, Anne B. Ragde, Unni Lindell, Camilla Läckberg.
The group's turnover increased from NOK 4m (£330,000) to over NOK 100m (£8.34m) between 2017 and 2019.
Bonnier Books c.e.o. Håkan Rudels said: “The Nordic region is our home market and being able to strengthen our position in Norway is strategically important to us. The impact that Strawberry's authors, employees, and owners have had on the Norwegian book market in such a short time is nothing short of impressive. I am very much looking forward to welcoming new colleagues and authors to Bonnier Books and continuing the growth journey.”
Stordalen added: “The book industry is going through major upheavals. To remain fast, offensive and equip ourselves digitally, we must strengthen the publishing group both financially and structurally. Bonnier Books is the perfect partner in that sense—they have the weight, history and publishing muscle we need to continue our growth and challenge our competitors.”
The acquisition is currently subject to a customary review by the Norwegian Competition Authority.