The Nordic media group Egmont will become the sole owner of Cappelen Damm, Norway's largest publishing house. Cappelen Damm was established in 2007 through a merger between the Bonnier-owned Cappelen and Egmont-owned Damm, with a 50/50 split in ownership. Since then, the publishing house has grown to become the biggest in Norway with over 2,000 publications a year.
“Books are on the rise. A trend we can see in printed books and digital publications. Cappelen Damm perfectly matches Egmont’s publishing profile and long-term objectives,” Egmont’s CEO and chairman of Cappelen Damm, Steffen Kragh, said.
Egmont, one of Denmark's largest media groups, also owns publishing house Lindhardt and Ringhof, Denmark's second-largest publisher. Last year the company saw 30% growth in revenue and hit sales records, driven in part by audiobooks. It is also a significant digital publisher, offering some 90,000 books in more than 30 languages through its Saga Egmont subsidiary.
Tom Harald Jenssen, Cappelen Damm’s long-time publishing director, will continue in his role.
The acquisition means that Egmont’s total book publishing revenue in the Nordic countries could hit as much as 200 million euros in 2021.