Penguin Random House has completed the purchase of South Africa-based Random House Struik.
Random House Struik was formed in 2008 following the merger of Random House South Africa and Struik Publishers. Times Media Group’s New Holland Publishing held a 50.1% stake in the company, while The Random House Group owned 49.9%.
Following a deal completed on Friday (13th December) Penguin Random House now takes 100% ownership of the company.
In a statement Penguin Random House said Random House Struik and Penguin Books South Africa would “now work in close cooperation under the excellent respective leaderships of Steve Connolly and Stephen Johnson with a view to integrating the businesses within Penguin Random House in 2014”.
Ian Hudson, c.e.o., Penguin Random House International, said: “We have enjoyed a terrific partnership with Times Media and New Holland Publishing over the last five years and they pass to us a fantastic legacy of a thriving local publishing list and an innovative digital programme, including world-leading nature apps.
“We look forward to building on this with Random House Struik now a wholly-owned part of Penguin Random House.”
Andrew Bonamour, c.e.o., Times Media Group, said: “We are very pleased to have concluded the sale of our shareholding in Random House Struik to our long term partners in the business, who we believe will cherish and grow what is generally considered to be the best local publishing list in South Africa.”
Random House Struik’s local publishing promotes books written in both English and Afrikaans, under the Struik Lifestyle, Struik Nature, Struik Travel & Heritage, Fernwood Press and Zebra Press non-fiction imprints and the Umuzi fiction imprint.
It also publishes internationally acclaimed authors from Random House.