Danish publishing giant Egmont Publishing has announced that it is looking to sell its American division, Egmont USA. Founded in 2009, the company publishes children’s and YA fiction under the direction of Andrea Cascardi, who was named publisher in January 2013, succeeding founding publisher Elizabeth Law.
Egmont said it is selling the unit because it wants to focus its future investments in countries where it can be among the largest publishers. “The simple reason for selling the business is that it does not fit with the strategic position of Egmont Publishing only to invest in countries where we can have a market leading position,” said Rob McMenemy, CEO of Egmont Publishing International.
Egmont USA has a backlist of about 170 titles with more than half young adult. All titles have been originated in the U.S. and are aimed at American audiences. The publisher has done about 30 series, which account for about 70 titles. Egmont typically does 35 new hardcovers a year along with 15 to 20 paperback reprints with a New York-based staff of eight.
Broadwater & Associates of New York is handling the sale for Egmont.