Storytel Acquires Norstedts

Book streaming service Storytel has acquired Norstedts Publishing Group, Sweden's largest publishing group, from retail group Kooperativa Förbundet in a transaction valued at €16.3 million. Norstedts, the oldest publishing house in Sweden, was founded in 1823. As of the end of 2015, it employed roughly 100 people. The publisher had a turnover of €46.8 million and made a profit of €3.9 million in 2015.

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