Penguin Random House has purchased the 50.1% share of Random House Struik that was held by New Holland Publishing and its parent company, Times Media Group, and now fully owns the major South African publisher. Random House Struik was formed in 2008 following the merger of Random House South Africa and Struik Publishers.
Penguin Random House International CEO Ian Hudson commented: "We have enjoyed a terrific partnership with Times Media and New Holland Publishing over the last five years and they pass to us a fantastic legacy of a thriving local publishing list and an innovative digital programme, including world-leading nature apps. We look forward to building on this with Random House Struik."
Times Media Group CEO Andrew Bonamour said: "We are very pleased to have concluded the sale of our shareholding in Random House Struik to our long term partners in the business, who we believe will cherish and grow what is generally considered to be the best local publishing list in South Africa."
Random House Struik's local publishing program includes books written in English and Afrikaans under the Struik Lifestyle, Struik Nature, Struik Travel & Heritage, Fernwood Press and Zebra Press non-fiction imprints and the Umuzi fiction imprint. Random House Struik also publishes an array of international authors.
Random House Struik and Penguin Books South Africa will now work to integrate the businesses within Penguin Random House in 2014.
