Houghton Mifflin Harcourt Acquires Award-Winning Culinary Program, Webster'sNew World Reference Titles and CliffsNotes Guidesfrom John Wiley & Sons, Inc.
Acquisition to include segment-leading assets and brands such as the Betty Crocker series, Better Homes and Gardens line, and Mark Bittman's How to Cook Everything franchise
BOSTON--(BUSINESS WIRE)-- Houghton Mifflin Harcourt (HMH) today announced that its Trade & Reference division has acquired the assets of John Wiley & Sons, Inc.'s (NYSE: JWa, JWb) culinary portfolio, in addition to classic reference titles Webster's New World Dictionary and CliffsNotes.
Wiley's celebrated cookbook collection includes the flagship Betty Crocker series, in addition to other General Mills-branded lines, the Better Homes and Gardens line licensed from Meredith Corporation, Mark Bittman's How to Cook Everything franchise - including the bestselling culinary app for iOS, and high-profile authors such as Rose Levy Beranbaum, Marcus Samuelsson and Ellie Krieger. This acquisition will complement HMH's premier authors and cookbooks, including Jacques Pépin, Dorie Greenspan, The Gourmet Cookbook and the Hello, Cupcake! franchise.
"This strategic acquisition reflects HMH's continued commitment to consumer publishing, and represents an exciting growth opportunity within the culinary market. Even as digital sales increase, the print cookbook segment shows particular strength, both at HMH and within the market in general," said Gary Gentel, President of HMH's Trade & Reference division. "The combination of Wiley's culinary, reference, and CliffsNotes lines with our existing business will significantly strengthen HMH's market position in both the culinary and reference categories."
Webster's New World Dictionary is a dominant force in the back to school market, and Webster's New World College is the dictionary of choice for the New York Times and the Associated Press. Together with HMH's American Heritage family of dictionaries, the company's reference offerings will expand significantly.
At HMH, CliffsNotes will continue its robust program of test-preparation and literature study guides for high school and college students. CliffsNotes.com, which maintains over two million unique visitors per month, will also migrate to HMH. This will reinforce the company's deep strength in test preparation and assessment services, complementing its role as the largest provider of K-12 educational materials in the U.S.
"We believe that HMH is well-positioned to provide the strategic focus required for these assets to achieve their full potential and continue to flourish," said Mark Allin, Wiley's Senior Vice President, Professional Development. "While these assets have contributed to Wiley's success to date, Wiley is reshaping its portfolio to support growth opportunities in our Professional Development; Scientific, Technical, Medical, and Scholarly; and Global Education businesses, and create products and services that help customers become more effective throughout their education and careers."
Natalie Chapman, Vice President and Publisher at Wiley, is joining HMH to manage the entire culinary program, reporting to HMH General Interest Group Senior Vice President and Publisher Bruce Nichols. A number of Wiley editorial, marketing, publicity, and production staff are also joining HMH as part of the acquisition. As part of the new HMH culinary program, HMH Senior Executive Editor Rux Martin will also launch her own imprint, Rux Martin Books.
About Houghton Mifflin Harcourt
Houghton Mifflin Harcourt is a global learning company with the mission of changing lives by fostering passionate, curious learners. Among the world's largest providers of pre-K-12 education solutions and one of its longest-established publishing houses, HMH combines cutting-edge research, editorial excellence and technological innovation to improve teaching and learning environments and solve complex literacy and education challenges. HMH's interactive, results-driven education solutions are utilized by 60 million students in 120 countries, and its renowned and awarded novels, non-fiction, children's books and reference works are enjoyed by readers throughout the world. For more information, visit www.hmhco.com.
Wiley is a global provider of content-enabled solutions that improve outcomes in research, education, and professional practice. Our core businesses produce scientific, technical, medical, and scholarly journals, reference works, books, database services, and advertising; professional books, subscription products, certification and training services and online applications; and education content and services including integrated online teaching and learning resources for undergraduate and graduate students and lifelong learners.
Founded in 1807, John Wiley & Sons, Inc. (NYSE: JWa, JWb), has been a valued source of information and understanding for more than 200 years, helping people around the world meet their needs and fulfill their aspirations. Wiley and its acquired companies have published the works of more than 450 Nobel laureates in all categories: Literature, Economics, Physiology or Medicine, Physics, Chemistry, and Peace. Wiley's global headquarters are located in Hoboken, New Jersey, with operations in the U.S., Europe, Asia, Canada, and Australia. The Company's website can be accessed at http://www.wiley.com.
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