Today Egmont entered into an agreement to sell its Swedish book publishing company, Damm Förlag AB, to Forma Publishing Group. Based in Malmö, Damm Förlag AB publishes about 300 titles annually and employs a workforce of 46.
Damm Förlag AB has been trying to consolidate its position in the Swedish book market for some time, a strategy that would have put Egmont among the largest book publishers in Sweden, a standing the Group already enjoys in Denmark and Norway. Recognizing, however, that Damm Förlag AB has been unable to achieve critical mass, Egmont has decided to sell the company to Forma Publishing Group.
In Sweden the Egmont media group publishes magazines, weeklies, comics, and youth media, and its activities also encompass film, TV, music and games. After selling Damm Förlag AB, Egmont still employs a workforce of more than 500 in Sweden.
“Damm Förlag AB is enjoying a promising period, developing an exciting range of publication projects. However, selling the company to Forma Publishing Group will give Damm Förlag AB stronger market access. This is a good solution and the best one for the company, its employees and its authors,” comments Tom Harald Jenssen, Executive Vice President, Egmont Books.
The deal has been signed subject to the final approval of the competition authorities.
Further information:
Tom Harald Jenssen, Executive Vice President, Egmont Books: + 47 24 05 10 00, tom.harald.jenssen@damm.no
Sascha Amarasinha, Vice President, Corporate Communications: + 45 33 30 51 40, cell +45 61 62 29 73, sas@egmont.com
