Penguin Random House has acquired the merchandiser Out of Print, which produces and retails literary-themed apparel, accessories, and home goods, in an effort to "greatly expand its author- and imprint-brand-based merchandising capabilities," the publisher said. Terms of the acquisition were not made public.
Out of Print, founded in 2010, emblazons its products with both classic book covers and original designs. The company will continue to operate out of its Manhattan headquarters, and its cofounders, Todd Lawton and Jeffrey LeBlanc, will stay on. The pair will serve as managing directors, and report to Alison Rich, v-p of publishing innovation development at PRH.
A PRH spokesperson said the acquisition will bring the publisher "expertise in product sourcing, creation, licensing [and] distribution." The spokesperson explained that Out of Print's products can be used by the house's authors on their social media platforms to "build their relationships with their readers."
"Since our earliest days Penguin Random House has supported our mission to build awareness and excitement around books," Lawton and LeBlanc said in a statement. "Working hand-in-hand with Penguin Random House is a tremendous opportunity for all our partners, and for our fans, globally to express their passion for their favorite reading.”
Out of Print's merchandise is, according to a release, stocked by more than 1,000 retail outlets throughout the country. And the company's clothing already features a number of titles owned or distributed by PRH, including works by Margaret Atwood, George Orwell, Franz Kafka, Gabriel García Márquez, and more.
As it has since its founding, Out of Print will continue to fund literacy programs and donate books to communities in need for every item sold; to date, the company has donated more than two million books. The merchandiser will also continue to make clothing based on works from other publishers, Penguin Random House representatives said.
"Through their outstanding creativity and business-building Out of Print has created recognition and revenue for authors, illustrators, and publishers, and meaningful, fun experiences for readers," Nina von Moltke, PRH executive v-p and director of publishing development, said in a statement. "With their forward-thinking entrepreneurship, joyful collaborative spirit, and shared social values, they will be enthusiastically welcomed as new members of the Penguin Random House family."
