News Corp.’s HarperCollins Publishers unit has inked a deal to acquire Thomas Nelson Inc., a top publisher of religious books.
TNI, which was founded 1798 in Edinburgh, went private 18 months ago in a move engineered by equity firm Kohlberg & Co.
The Nashville-based company produces bibles, inspirational tomes, curriculum, audio, video, e-books and apps for electronic devices.
It has annual revenues in the $200M range, which is a nice chunk of the $1.4B religious book market.
TNI’s “Heaven Is For Real” is a current top-seller. Other recent titles are “Who Switched Off Your Brain,” “A Gentleman Walks Down The Aisle,” “God’s Shelter For Your Storm,” and “Healing Hearts.”
Brian Murray, CEO of HarperCollins” expects its worldwide marketing reach and e-book distribution in 175 markets “provides an opportunity to further expand the readership of Thomas Nelson’s distinguished authors.”
He sees the new addition as a “good complement to Zondervan,” HarperCollins’s religious flagship.
HarperCollins is expected to close on the TNI deal by the end of the year.