Raincoast Books has bought Polestar Book Publishers from its owner and publisher, Michelle Benjamin--acquiring all shares and bringing on its management team. Benjamin, publisher at Polestar since 1991, will join Raincoast Books on March 1, 2000, as associate publisher. Lynn Henry, currently Polestar managing editor, will move to Raincoast as managing editor, while Emiko Morita, Polestar's marketing director, will become Raincoast's associate marketing director.
"Joining Raincoast in this way wasn't something I had considered before they approached us late last fall," Benjamin told PW. "The combination of their offer to purchase Polestar, their commitment to maintaining a Polestar imprint that will continue to feature quality, literary titles and the offer of interesting and exciting positions for Emiko, Lynn and me made it an offer to which I couldn't say no."
The purchase gives Polestar "the kind of financial security that is hard to achieve as a small press," Benjamin added. "Raincoast's solid reputation for marketing and distributing will ensure the continued success of our backlist; we can use the added resources at Raincoast to develop an even stronger and more exciting frontlist."
Polestar will no longer have a distribution arrangement with General Distribution, but will continue its relationship with the team of sales reps at Kate Walker & Co.
