Over the last 30 years, we have supported Penguin Random House (PRH) on its remarkable journey. We have advised on its acquisitions of, among others, Everyman’s Library, BBC Books, Virgin Books, Little Tiger Group and Hardie Grant UK, while also providing continued commercial and data protection support.
Most recently, we advised on PRH’s acquisition of Wonderbly. This was a complex transaction that was completed on an expedited timeline, within a few weeks of PRH becoming the preferred bidder. This was only possible due to the unwavering efforts of the entire deal team, especially as negotiations involved various stakeholders, navigating different time zones and liaising with the client’s global M&A team based in New York.
Penguin Random House is a leading global trade book publisher, and its acquisition of Wonderbly, the premier personalized gift book publisher, will enable the two businesses to collaborate on a range of new initiatives and publishing ventures designed to accelerate growth, expand reach and attract new audiences.
The team advising PRH was led by Head of Corporate David Robinson, with support from Andrew Titmas, Hamilton Forrest, Jennifer Hawkes, Caroline Philipps, Ben Milloy, India-Rose May, Helena McElroy, Daniel King, Kieran Sims and Isabelle McGregor.
Cara Deedy, VP & Head of Global M&A at Penguin Random House, shared her experience of working with Fladgate: “Working with David and his team at Fladgate was once again an outstanding experience. The Fladgate team has a deep understanding of both the publishing industry and the complexities of M&A transactions. They were highly professional, responsive and unwavering in their dedication - often working late into the night to help us close the acquisition on an accelerated timeline. Their commitment and expertise were instrumental in getting this deal done.”
Head of Corporate, David Robinson, added: “One of my earliest M&A deals was for PRH, and now many years later I can still say it is an absolute pleasure to work with the hardworking, dedicated, knowledgeable and, above all, friendly PRH team. The Wonderbly purchase was completed to a condensed timetable that required all parties to pull out all the stops to get it done. I am sure that the Wonderbly team will continue to grow the business within the PRH family.”
