- Bastei Lübbe buys the publishing house Hörcompany
Bastei Lübbe, the book publisher, has acquired Hörcompany, the Hamburg-based audiobook publisher. The seller is W1-Media Verlag, as Bastei Lübbe announced in Cologne. No details about the transaction were provided. The acquisition is retroactive to July 1, and Hörcompany's founder, Angelika Schaack, is set to stay on board until the end of the year. The Hamburg office and staff of Hörcompany, which employs up to six people, will not be taken over.
Founded in 2000, Hörcompany specializes in children's and young adult audiobooks, including series like "The Gruffalo" by Axel Scheffler and "LasseMaja Detective Agency" by Martin Widmark, as well as "Skulduggery Pleasant" for young adults. Bastei Lübbe CEO Soheil Dastyari sees this acquisition as an ideal complement to their existing portfolio.
After a challenging decade, Bastei Lübbe is back on track, with its stock price having multiplied by five since late 2018. In the fiscal year 2023/24, which ended in March, the company's revenue grew by 10.3% to 110.3 million euros, and its operating profit (EBIT) nearly doubled to 14 million euros.
Best-selling novels by Ken Follett ("The Pillars of the Earth") and Dan Brown ("The Da Vinci Code") contributed to this success. The digital share, which includes audiobooks and e-books, accounts for nearly a third (32.4 million euros) of the company's revenue. With this acquisition, the publisher further strengthens this growing segment.
The announcement of the acquisition was made in Cologne, where Bastei Lübbe's headquarters are located. After the acquisition, Hörcompany's founder, Angelika Schaack, will continue to work with Bastei Lübbe until the end of the year in Cologne.
