Penguin Random House Acquires Full Ownership Of Penguin Books India
Penguin Random House has taken over all shares in the Indian book publisher Penguin Books India. In the first transaction, the largest trade book publisher in the world has acquired the remaining 45-percent stake in Penguin Books India previously held by Ananda Publishers. Penguin Books India is among the five largest publishers in India, a market that promises rapid growth in the book industry as elsewhere.
Penguin India was established from Britain in 1985.The recent acquisition gives Penguin Random House full ownership of the Indian publisher.
"The merger of Penguin and Random House brought together the country’s two most successful publishing houses and I am delighted that with the completion of this deal, they are now fully united as Penguin Random House India."
Gaurav Shringadesh, CEO von Penguin Random House India
Penguin Random House India maintains its own offices in Delhi and the industrial town of Noida. Some of the most successful Indian writers on its author roster are Jhumpa Lahiri, Ramachandra Guha, Salman Rushdie, Gurcharan Das, Basharat Peer, Amartya Sen, Ravinder Singh, Ravi Subramanian and Nadeem Aslam.
Long before Penguin and Random House published their own Indian authors and books, both publishing groups sold English-language books on the subcontinent. This is still a lucrative market, as about one-tenth of the 1.25 billion people in India speak and read English. 40 percent of the Indian book market is comprised of English-language titles, representing 60 percent of sales.
The publisher Penguin Books India isn’t the only player that has long been active in this exciting growth market. For decades, Random House has sold English-language books in India. Seven years ago, the company then founded its own publishing house on the subcontinent: Random House India, which is now the second-largest publisher in India. More than 30 employees work for Random House India, publishing and selling Indian and international titles.
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Claire von Schilling
Penguin Random House, Executive Vice President, Director Corporate Communications and Social Responsibility Penguin Random House
