Swindon-based Book Club Associates (BCA) has been taken over by the Munich-based industrial holding AURELIUS.
Contracts governing the transaction have now been signed with BCA’s parent, Bertelsmann AG.
Beyond a traditional book club for general interest, BCA also comprises six special-interest book clubs catering to different target groups. The theme clubs cover everything from children’s books to fantasy and science fiction, through to history books and collectors’ publications. The company currently counts almost 700,000 members and is the UK’s biggest mail order bookseller. In 2008, BCA had total revenue in the mid double-digit million euro range, generated exclusively by the Club business.
Commenting on the sale, BCA’s CEO George Saul said: “I am delighted that this exciting deal was successfully concluded. Over the past four years we have created a promising platform and I believe that AURELIUS will bring the enthusiasm and expertise to BCA’s business which will ensure that it prospers in the future.”
After losses in the past, the company is expected to return to profitability in 2009. The parties agreed to keep the purchase price confidential. The transaction is expected to close by the end of January.
