Penguin Putnam Signs Agreement to Acquire Avery Publishing Group
Posted on August 20, 1999Penguin Putnam Inc. has announced that it has signed an agreement to acquire The Avery Publishing Group, a publisher of books on health, fitness and other self-help topics based in Garden City, NY. Avery's health care backlist includes Prescription for Nutritional Healing by James and Phyllis Balch, an "industry bible," with more than 5 million copies in print since its release in 1990, and Juicing For Life by Cherie Calbom and Maureen Keane.
Rudy Shur, Avery's President and Publisher, commented: "Our decision to sell the company was not an easy one to reach because Avery has been our professional home for 23 rewarding years. However, the decision was based on our strategy to enhance our position in the industry. We want our employees to know how deeply we appreciate their many contributions over the years. We are proud of the fact that we have successfully built a known brand name in the health care and nutrition markets. We have published many top-selling books in this category, which is a credit to the tremendous efforts of our devoted colleagues. Penguin Putnam is a company we have always admired and respected. The Avery brand is a natural fit with Penguin Putnam and our books will undoubtedly benefit from their already strong presence in this growing market."