Nashville-based Thomas Nelson has acquired the name and approximately 60 backlist titles of Cool Springs Press, a $2-million publisher of gardening books that was founded six years ago by Roger Waynick in nearby Franklin. Lee Gessner, Nelson Publishing Group's executive v-p, told PW that Cool Springs will be a "sister company" to Rutledge Hill Press within the Nelson Group. The purchase "will help us further expand our impact in the trade market. Our strategy is to develop Cool Springs alongside Rutledge Hill," Gessner said. Nelson acquired Rutledge Hill last year.
"The addition of Cool Springs to our lines opens up tremendous opportunity for increased sales in traditional book stores, the mass market and in specialty markets such as lawn and gardening centers," Gessner explained. During its first year at Nelson, Cool Springs will release 18 new products, including the six to eight underway when the purchase was finalized.
The imprint will be staffed by editorial director Hank McBride, editor Billie Brownell and associate editor Angela Reiner, a team that relocated early this month from Franklin to Nelson's corporate headquarters. Previously McBride was Cool Springs' marketing director. Waynick remains in Franklin as head of Cool Springs Communications, although Nelson has retained him as a consultant for product development. His company, now slimmed down to a staff of six, publishes several gardening newsletters and small magazines, in addition to offering public-relations consultancies for corporate clients.
Gifts Lost $6 Million
In reviewing its fiscal 2001 results, Nelson said in its annual report that its struggling gift division lost $6.3 million in the fiscal year ended March 31, 2001, compared to a $776,000 loss in fiscal 2000. Sales in the division were up less than 1%, to $83.8 million. Operating income in the publishing division slipped to $21.1 from $21.5 million, despite a revenue increase to $214.1 million from $182 million in fiscal 2000. Nelson said $25 million of the $32.1-million gain in publishing sales was due to full-year results from Rutledge Hill Press and Women of Faith, a company that hosts inspirational conferences. Earlier this year, Nelson reported a 12.2% increase in total sales, to $298 million, and a $2.8-million net loss (News, May 28). The company has been reviewing its options regarding its gift division and a decision about what to do with the operation is expected soon.
