Two of the biggest wholesalers and distributors in the bargain and promotional book space are coming together. Book Depot, the bargain book distributor based in Thorold, Ont., has acquired American Book Company headquartered in Knoxville, Tenn. for an undisclosed price.
Book Depot operates out of a 500,000 sq.-ft. warehouse with more than 500 employees. In addition to its core business, Book Depot runs a publishing house, Kidsbooks Publishing LLC, and the online bookstores, BookOutlet.com and Kidsbooks.com, as well as Lillypost.com, a children's book subscription box.
American Book Company has a one million sq.-ft. warehouse and maintains a stock of 25 million titles, primarily servicing dollar, grocery and discount retailers. The company also owns and operates 36 locations of Book Warehouse, a bargain bookstore chain located primarily in outlet malls across the U.S.
“This acquisition is part of our ongoing growth strategy to invest in the bargain book industry and we are delighted to partner with American Book Company.” said Wilf Wikkerink, CEO of Book Depot, in a statement. “As we see continued consolidation in the publishing business, it is also becoming clearer that publishers require large partners that are able to provide turnkey inventory solutions for their remainders, overstocks and returns, and bringing together two of the industry’s key players gives us that ability.”
Dean Winegardner, CEO of American Book Company, added, “We are thrilled to be partnering with Book Depot who has shown their commitment to our industry with their enormous investment in technology and innovation over the last ten years. ABC and Book Depot are looking forward to leveraging our respective strengths for the benefit of our customers, publishers, employees, and all our stakeholders.”
Pat O’Connor will remain president of American Book Company, while Dean Winegardner, who founded the company in 1997, is leaving to work on other affiliated businesses.