ACK Media, which owns brands such as Amar Chitra Katha, Tinkle and Karadi Tales, has acquired a 100% stake in India Book House Pvt. Ltd (IBH), one of the largest and oldest distribution networks for books and other published material.
The new entity, IBH Books and Magazines Distributors Pvt. Ltd, will be one of the largest integrated publishing and distribution companies in India.
ACK Media, registered as Amar Chitra Katha Pvt. Ltd, is also looking to raise nearly Rs100 crore in the next 18 months to expand its portfolio of products and promote itself in India and abroad.
“The new entity would have (a) robust infrastructure of 10 offices in major metro cities across India, a distribution network that includes over 2,500 stores and over 22,000 vendors, thus allowing us to penetrate not just the top 12 cities, but the top 400 cities in India in a very meaningful manner,” said Ashish Goel, chief operating and financial officer of ACK Media.
Full report here Mint