Sourcebooks acquires Tennessee publisher

Despite a tough economy and cutbacks in the publishing industry, Naperville-based Sourcebooks Inc. has acquired another independent book publisher and eyes more expansion next year.

Nashville, Tenn.-based Cumberland House, known for the "Why a Daughter Needs a Dad" series that has sold more than 3 million copies, signed the deal on Friday. The companies declined to discuss the terms of the acquisition.

"There's a lot of opportunity in this market, but maybe I'm the only one who thinks that," Sourcebooks owner Dominique Raccah said during a phone interview Tuesday. This is her seventh acquisition since starting the company about 20 years ago.

Raccah said she has known Cumberland House owner Ron Pitkin as an industry colleague for about 15 years. He will joined Sourcebooks as its executive acquisition editor.

"Dominique and I have been friends for many years, and I am so pleased to be able to join with her and make my own contribution to the ongoing success of one of the most exciting independent publishing companies in America," Pitkin said in a statement.

However, his Nashville office will close and 14 workers will be laid off. Sourcebooks only will take Pitkin and two other top executives.

Cumberland House, which was founded in 1996 by Pitkin, will remain an independent imprint, meaning its brand will continue.

The acquisition includes about 90 forthcoming titles, including the "Daughter" series, as well as cookbooks and novels.

The addition of Cumberland's books will continue to boost Sourcebooks' national spotlight in the independent book-publishing arena, said Terry Nathan, executive director of the Independent Book Publishers Association in Manhattan Beach, Calif.

Sourcebooks is one of about 3,700 company members.

"Sourcebooks has been one of the fastest-growing independent publishers ever," said Nathan.

"And one of the ways they've grown so quickly is by acquisition of good publishers and by adding more of their own books to their lists. It's a very stable company."

Next year, Raccah plans more acquisitions, and has been in talks with three companies.

She's also planning to hire three more employees, a salesperson in the Naperville office and acquisition editors in the company's New York and Connecticut offices.

"We think this is a great environment for growth," Raccah said.