Penguin Buys Stake in Brazilian Publisher
Dec 06, 2011
Dec 06, 2011
The Penguin Group has acquired a 45% stake in Companhia das Letras, a 25-year-old publishing house founded by Luiz Schwarcz in Sao Paulo, Brazil. The Penguin investment is in keeping with parent company Pearson’s strategy of looking for growth opportunities in Brazil, India and China; Penguin already has a presence in both India and China. Penguin began working with Companhia last year on a Penguin Companhia classics joint venture and the investment will broaden Penguin’s participation with Companhia.
While the deal gives Penguin greater entre into the Brazilian market, the agreement will give Companhia greater access to the education market through Pearson’s presence there as well as to help Companhia make the transition from print books to digital.
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