Bonnier Books acquires majority stake in Strawberry Publishing AS
Bonnier Books has acquired 70% of the shares in the Norwegian publishing group. Petter Stordalen and the three other founders retain 30% of the ownership and operations continue under the current name Strawberry Publishing.
Strawberry Publishing AS comprises two general publishing houses, Strawberry Publishing and Bastion Forlag. Both operate on the Norwegian book market and publish fiction, non-fiction, children’s and youth literature.
Håkan Rudels, CEO Bonnier Books, 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.’
The acquisition of Strawberry Publishing includes many popular authors, such as Jørn Lier Horst, Anne B. Ragde, Unni Lindell, Camilla Läckberg, Sophie Elise, Sally Rooney and Jojo Moyes. The publishing group’s turnover increased from NOK 4 million to over NOK 100 million between 2017 and 2019.
On the deal, Petter Stordalen, co-founder and co-owner of Strawberry Publishing AS, said: ‘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.’
Alexander Henriksen, CEO of Strawberry Publishing, said: ‘Bonnier has developed authorships for two hundred years, from August Strindberg to Lydia Sandgren, and we are proud to become part of this tradition. Bonnier and Strawberry joining forces will increase the competitiveness on the Norwegian book market to the benefit of readers, authors, and literature. Together with Bonnier it will be easier for us to bring new and established Norwegian authors out into the world.’
The acquisition of Strawberry Publishing is currently subject to a customary review by the Norwegian Competition Authority.