Rizzoli International Publications, the New York City–based subsidiary of Italian publisher the Mondadori Group, has reached an agreement to acquire Chelsea Green Publishing, the well-known, White River Junction, Vt.–based independent book publisher of titles on politics and sustainability. The acquisition, for a proposed purchase price of $5 million, follows Rizzoli International's announcement, last month, of a new U.K.–based publishing arm, Rizzoli UK.
The deal, which was brokered by the Fisher Company, is expected to close in the first half of 2024, and includes Chelsea Green's subsidiary, Chelsea Green Publishing UK Ltd, which is based in London. When the deal is completed, Chelsea Green will join Rizzoli New York, Rizzoli Universe, and Rizzoli Electa as imprints of Rizzoli International.
"This partnership aligns perfectly with our vision of promoting meaningful content that resonates with global audiences while addressing crucial issues related to sustainability and eco-friendly living," said Stefano Peccatori, CEO and president of Rizzoli International, in a statement. "The acquisition opens doors to new opportunities for collaborative projects, innovative titles, and expanded market reach in the English language and global publishing landscape."
Chelsea Green president and publisher Margo Baldwin will assume the role of publisher emeritus and join the Rizzoli International executive team. All current Chelsea Green employees, including 17 in the U.S. and four in the U.K., will continue to work for the publisher under Rizzoli International. Chelsea Green has been fully employee-owned since 2019; all participants in the publisher's employee stock ownership plan will receive the net proceeds from the sale, a representative of Rizzoli International said, with the amount dependent upon compensation level and the number of years of service at the company.
"I’m thrilled to have Chelsea Green secure its future and join Rizzoli and the entire esteemed Mondadori family of book publishing and bookstore companies for the next phase of development," Baldwin said in a statement. "This alliance will enable new growth and international expansion for our titles as well as significant new opportunities for our authors and employees."
Chelsea Green was founded in 1984 by Ian and Margo Baldwin, and has appeared on PW's fast-growing independent publisher list several times, including in 2021. It had sales of $8.1 million in 2022, and an operating income of $1.1 million. The publisher has been a pioneering promoter of sustainable practices in the publishing business and a prominent publisher of literature on sustainability, and has also published political books of note by such authors as Sen. Bernie Sanders and Naomi Wolf.
This article has been updated with further information.
