
From
The Tennessean, October 13, 2006 --
Nelson
sells gardening-books unit:
Franklin's Waynick Book Group
buys Cool Springs Press
By Getahn Ward, Staff Writer
Thomas Nelson Inc. is getting
out of the gardening books business because it says it can't sell
its other books and products through the home improvement retailers
where they're sold.
The Nashville-based religious publisher on Thursday said
it had sold its Cool Springs Press imprint to a company owned by
businessman Roger Waynick. The sale comes five years after Nelson
bought Cool Springs Press from Waynick as it sought to diversify
by adding titles targeting a general audience.
"We want to focus on products that we can leverage across
most of our product formats and most of our sales channels,"
Nelson Chief Executive Officer Mike Hyatt said of the latest strategy.
Tennessee & Kentucky Gardener's Guide and All New Square
Foot Gardening: Grow More in Less Space are among the biggest titles
of Cool Springs Press locally.
Cool Springs Press has become an imprint under Waynick Book
Group of Franklin, which now has 12 employees. Waynick projects
revenues in the range of $5 million for 2007.
Hyatt said Nelson, which was acquired and taken private by
investors led by private equity firm InterMedia Partners in June,
did not plan to sell any other imprint.
Separately, Nelson is buying Christian publisher Integrity
Publishers of Franklin.
|