Baker & Taylor

Baker & Taylor, a distributor of books and entertainment, has been in business for over 180 years.[1] It is based in Charlotte, North Carolina and currently owned by Follett Corporation. Before being acquired by Follett in 2016, Baker & Taylor had $2.26 billion in sales, employed 3,750, and was # 204 on Forbes list of privately owned companies in 2008.[2]

Offerings

Baker & Taylor's core business distributes tangible media content (i.e., books, calendars, music CDs, DVDs, Blu-ray discs), digital content (i.e., ebooks and e-spoken word audio), and collection development and processing services to libraries throughout the world. Digital content is available through the company's Axis 360 platform via the Blio app or the Axis360 app.[3] Its retail unit distributes approximately 1 million+ book titles and music CDs, DVDs, and Blu-rays to brick and mortar and Internet retailers (booksellers, craft stores, department stores, comic book stores).[4]

Ownership history

Castle Harlan Partners is Baker & Taylor's majority owner, having acquired it from the investment firm Willis Stein & Partners.[5] In 1994, it the Follett Corporation of River Grove, Illinois had intended to acquire Baker & Taylor from the then majority holder, the Carlyle Group, who was looking to sell its interest to concentrate on the defense industry.[6]

Arnie Wight became president of the company on May 23, 2007.[7] Jack Eugster became chairman and chief executive officer, replacing Richard Willis, on January 4, 2008.[8][9] Thomas Morgan took over the CEO role on July 7, 2008.[10] In January 2014, George Coe replaced both Wight and Morgan as president and CEO.[11]

In February 2015, Baker and Taylor's publishing group and U,S. marketing services were acquired by Readerlink Distribution Services.[12] Under the acquisition agreement, Readerlink took over ownership of the firm's 504,000 sq. ft. Indianapolis distribution center, as well as their general offices in San Diego and editorial offices in Ashland, Oregon.[12] Baker and Taylor (UK) and B&T (Mexico) were not included in the acquisition, and will remain subsidiaries of Baker & Taylor.[12] A Readerlink spokesperson said no offices, distribution centers, or operational changes were planned, and indicated that all current management and employees of the acquired divisions were joining the Readerlink.[12]

In April 2016, Baker and Taylor was acquired by the Follett Corporation of Westchester, Illinois. According to The Chicago Tribune, the deal could boost Follett’s annual revenue by as much as 40 percent—from $2.6 billion to $3.6 billion.[13]

Lawsuit

In 1999, Baker & Taylor paid a settlement of $3 million USD to the US government to settle a federal lawsuit. The suit claimed that Baker & Taylor had overcharged the federal government, as well as state and local libraries using federal funds. These charges occurred after 1992, when Baker & Taylor was sold by its then-parent company, W. R. Grace and Company. Baker & Taylor denied all allegations.[14]

Divisions

In 2009, Baker & Taylor bought the North American arm of Blackwell UK as well as Blackwell's Australian library supplier, James Bennett. In return, Blackwell acquired the UK-based Lindsay and Croft from Baker & Taylor. Blackwell's North American division was merged into Baker & Taylor's YBP Library Services.[15]

See also

Notes

  1. ↑ "Baker & Taylor". Archived from the original on 9 May 2008. Retrieved 2008-06-01.
  2. ↑ "America's Largest Private Companies". Retrieved 2015-09-02.
  3. ↑ "axis360 App Zone". Queens Public Library. Retrieved November 19, 2014.
  4. ↑ "About Baker & Taylor: Our Business". Retrieved 2015-09-02.
  5. ↑ "Castle Harlan Completes Purchase of Baker & Taylor, Leading Distributor of Books to Libraries and Stores". Retrieved 2015-09-02.
  6. ↑ "Baker & Taylor being sold. (Baker and Taylor Inc. Baker and Taylor Video)". Video Business. Retrieved 2008-06-01.
  7. ↑ Johnson, Jenny. "Baker & Taylor Appoints New President". btol.com. Baker & Taylor. Retrieved 31 July 2015.
  8. ↑ "Baker & Taylor Chief Executive Officer Resigns: Eugster Appointed Chairman" (pdf). Retrieved 2008-06-01.
  9. ↑ "Baker & Taylor Chief Executive Officer Resigns: Eugster Appointed Chairman". prnewswire.com. Retrieved 31 July 2015.
  10. ↑ "Morgan Replaces Eugster As CEO of Baker & Taylor". authorlink.com. Retrieved 31 July 2015.
  11. ↑ Price, Gary (17 January 2014). "Leadership: Baker & Taylor Names George Coe as Company's New Chief Executive Officer and President". Library Journal. Retrieved 31 July 2015.
  12. 1 2 3 4 Jim Milliot, Jim (23 February 2015). "Readerlink Buys B&T Publishing, Warehouse Units", Publishers Weekly. Retrieved 20 December 2015
  13. ↑ Tribune, Chicago. "Blockbuster book deal: Follett buys Baker & Taylor". chicagotribune.com. Retrieved 2016-04-18.
  14. ↑ "#276: 06-28-99 BAKER & TAYLOR, INC. PAYS $3 MILLION TO SETTLE ALLEGATIONS OF OVERCHARGING FOR BOOKS". Retrieved 2008-06-01.
  15. ↑ Milliot, Jim (8 December 2009). "Baker & Taylor Acquires Blackwell North America". Publishers Weekly. Retrieved 31 July 2015.

External links

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