Bright Harbour Advisory has advised the shareholders of Canelo Digital Publishing Ltd (‘Canelo’) on its sale to Dorling Kindersley Ltd (‘DK’).
Founded in 2015 by Iain Millar, Michael Bhaskar and Nick Barreto, Canelo is a publisher of quality genre fiction and non-fiction. Canelo has developed a reputation for its author-first approach and its expertise in both digital and traditional publishing, selling its books in over 190 countries.
The acquisition by DK, a subsidiary of Penguin Random House and German conglomerate Bertelsmann, will broaden DK’s publishing scope with the addition of Canelo’s fiction lines. Canelo and its imprints – Canelo, Canelo Crime, Hera, and August – will retain their independent identity, whilst benefiting from DK’s resources and global distribution network.
Michael Bhaskar, Co-founder – Canelo, said: “Bright Harbour Advisory have been a wise and supportive partner. They were instrumental in getting this deal ready in the first place and then done in the last. It’s impossible to imagine such a successful outcome without them and I’d unhesitatingly recommend them to anyone in a similar position.”
Eleanor Wilkinson, Partner, who led the Bright Harbour Advisory team, commented: “Having provided strategic advice to Canelo over the years, I am delighted to see them join forces with DK and look forward to watching their collaborative partnership grow.”
For more information or to discuss how we may be able to help you, please contact Eleanor Wilkinson.