Penguin Random House acquires full ownership of Penguin India
PENGUIN RANDOM HOUSE ACQUIRES FULL OWNERSHIP OF
PENGUIN BOOKS INDIA
PENGUIN BOOKS INDIA
(October 3, 2013, Delhi, India)—Penguin Random House today announced the completion of its purchase of Ananda Publishers Private Limited’s minority stake in Penguin Books India.
Penguin India was formed in 1985, with UK-based publishing house, Penguin Publishing Company, holding a 40 per cent stake, which it later increased to 55 per cent. Penguin Random House has now acquired the remaining 45 per cent, and takes 100 per cent ownership of the Penguin India.
John Makinson, Chairman of Penguin Random House India, said, “The partnership between Ananda Publishers Private Limited and Penguin in India stretches back more than 25 years and has created a local publishing company that leads the market in both size and reputation. My friendship with Arup and Aveek Sarkar has been one of the highlights of my Penguin career but there is always a right moment to move on professionally, and the watershed merger of Penguin and Random House provides it. The two wholly-owned companies are now combined under the leadership of their CEO, Gaurav Shrinagesh, who will be able to build on the legacy of these two fine India publishing houses.”
Gaurav Shrinagesh, CEO Penguin Random House India, observed, “The merger of Penguin and Random House has brought together India’s two most successful publishing houses, and we are delighted that with the completion of this deal, they now are fully united as Penguin Random House India. Under the partnership with Ananda Publishers Private Limited, Penguin became one of the most recognizable and respected publishers in India. We are now looking forward to building on this foundation with our talented authors and colleagues from across the whole of Penguin Random House India.”
With offices in Noida and Panchsheel Park, Delhi Penguin Random House India publishes many of the most recognisable and successful authors across the sub-continent in adult and children’s fiction and nonfiction published in hardcover, paperback, audio, and digital editions.
About Penguin Random House
Penguin Random House (http://www.penguinrandomhouse.com/) is the world’s first truly global trade book publisher. It was formed on July 1, 2013, upon the completion of an agreement between Bertelsmann and Pearson to merge their respective trade publishing companies, Random House and Penguin, with the parent companies owning 53% and 47%, respectively. Penguin Random House comprises the adult and children’s fiction and nonfiction print and digital trade book publishing businesses of Penguin and Random House in the U.S., U.K., Canada, Australia, New Zealand, and India, Penguin’s trade publishing activity in Asia and South Africa; Dorling Kindersley worldwide; and Random House’s companies in Spain, Mexico, Argentina, Uruguay, Colombia, and Chile. Penguin Random House employs more than 10,000 people globally across almost 250 editorially and creatively independent imprints and publishing houses that collectively publish more than 15,000 new titles annually. Its publishing lists include more than 70 Nobel Prize laureates and hundreds of the world’s most widely read authors.