Thomas Nelson sells Cool Springs |
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Wednesday, 11 October 2006 08:00 PM America/New_York |
Thomas Nelson imprint Cool Springs Press has been sold back to the publisher who founded it 15 years ago. Waynick Book Group of Franklin, Tenn., has purchased the imprint for an undisclosed amount. In a statement today, Nelson President and CEO Michael Hyatt said the gardening-focused imprint was no longer a strategic fit for the company. “Cool Springs' books are sold through unique specialty outlets where we can't really sell our other products,” he said. “In addition, the content can't be exploited by our other product divisions.” The news comes weeks after the announced purchase of Integrity Publishers. “It makes sense to sell the division now and redeploy our resources in ways that take advantage of our existing sales infrastructure and product development expertise,” Hyatt said. Roger Waynick, president of Waynick Books, sold Cool Springs to Thomas Nelson in 2001 and has since worked as a consultant for the imprint in various capacities.
Waynick said in a statement he was “pleased to have reacquired Cool Springs Press from Thomas Nelson. Cool Springs has the finest library of garden books available in the country, and we feel those assets will provide a solid base that will allow us to grow internally, as well as through additional strategic acquisitions.”
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