Readerlink Buying Baker & Taylor
Readerlink Distribution Services, which specializes in supplying books to non-trade booksellers such as Walmart, Target, grocery stores, and warehouse clubs, is buying Baker & Taylor, which primarily supplies the library market. According to a letter yesterday to "publishing partners" from Readerlink president and CEO Dennis E. Abboud, Readerlink will acquire "the business and substantially all the of assets" of B&T. Closing is expected on September 26.
With the purchase, "most of the current Baker & Taylor management team and employees will be joining the ReaderLink team, and Aman Kochar, Baker & Taylor’s CEO, will continue to lead the Baker & Taylor business," reporting to Abboud.
Abboud noted that "certain suppliers have outstanding account balances with Baker & Taylor, which will remain with the current ownership. We have been advised that in the coming weeks the current owners or their advisors will provide guidance regarding the process for submitting claims related to pre-closing open invoices." Readerlink will, however, be the guarantor for any post-closing debts.
Abboud observed that "the last several months have been a challenging period for Baker & Taylor. The company has faced headwinds, including the pressures of operating independently, emerging from the Covid-19 pandemic, and overcoming the debilitating impacts and financial losses resulting from cyberattacks in 2022." The library world has also suffered from budgetary pressures at all levels of government as well as waves of book bannings and anti-librarian laws and campaigns.
Readerlink was created in 2011, when the Chas. Levy Company sold its subsidiary, Levy Home Entertainment, to an investment company headed by Abboud, who had been a Levy executive in the 1990s. He renamed the company in order to emphasize the link between publishers, retailers, and readers.
Founded in 1828, Baker & Taylor is the preeminent supplier of books, software, and services to public and academic libraries and schools. Through B&T Publisher Services, it also provides sales and distribution services to publishers. In recent decades, it has been owned by several private equity firms. In 2016, Follett bought B&T and sold it in 2021 to a private investment group headed by president and CEO Amam Kochar. Kochar had been an executive at B&T since 2014.