Skyhorse Publishing is continuing its acquisitive ways, placing the high bid for the assets of the bankrupt Good Books. Skyhorse will pay $1.57 million for the assets, a total that includes just over $1 million for the Good Books inventory, and $550,000 to pay off Good Books’ debt. The deal is pending final approval.
Skyhorse's recent acquisitions include Night Shade Books. Its offer for Good Books beat out Rowman & Littlefield, which was the stalking horse with an initial offer of $1.3 million.
Good Books is best known for its line of Fix-It and Forget-It cookbooks written by co-owner Phyllis Good. The company filed for Chapter 7 liquidation in December.
Skyhorse CEO Tony Lyons is hopeful that the deal will close soon, and has plans to move distribution from Simon & Schuster to Skyhorse distributor Perseus. "Good Books is a terrific company and, specifically, the Fix It and Forget It line is a great fit for Skyhorse," Lyons said.