The acquisition of the 90-year-old author's company is the latest bet on the children’s book market by the world’s largest publisher
By Jeffrey A. Trachtenberg Nov. 5, 2019 4:40 pm ET Eric Carle, the author and illustrator of such classic children’s titles as “The Very Hungry Caterpillar” and “The Very Busy Spider” has decided at age 90 to sell his company to Penguin Random House, the world’s largest book publisher.
“This is a brand that is easy to translate across territories and different media,” said Madeline McIntosh, Penguin Random House U.S. chief executive. Mr. Carle’s work has been adapted for live children’s theater as well as various apps. Jack Fortier, CEO of Eric Carle LLC, said Mr. Carle felt that the time had come to sell the family business.
Amazon.com Inc., for example, offers a variety of Mr. Carle’s books as well as animal flashcards, an illustrated play mat and a collapsible storage box.
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