Follett to Divest Baker & Taylor: Private Investor Group, Led by President and CEO, to Acquire Business
Follett Corporation announced a change in ownership today of its Baker & Taylor division. Baker & Taylor, the world’s premier distributor of physical and digital books and services to public and academic libraries will now operate as an independent, privately-owned entity after a divestiture to a private investment group led by President and CEO Aman Kochar.
CEO and Follett Chairman Todd Litzsinger says, “The Follett Board of Directors, the Follett Family and I are excited for Aman and the Baker & Taylor team and cannot wait to see where they take the business. The passion and expertise the Baker & Taylor team possess will certainly translate into continued success for library customers. On behalf of the Follett family and shareholders, I would like to thank the B&T employees, publishing partners, librarians and library partners for the long and rich partnership we have enjoyed.”
Kochar says, “This is a pivotal and exciting time for Baker & Taylor. As an independent entity, we look forward to leading with our expertise and legacy and advancing our technology-based services and products.”
“Working together on a thoughtful transition, both Baker & Taylor and Follett Corporation are committed to ensuring this change is seamless for our customers, partners and team members. I want to express my sincere gratitude to the Follett Chairman Todd Litzsinger, the Follett Board of Directors and Follett shareholders for their partnership over the last five and half years,” Kochar added.
Baker & Taylor’s related businesses are moving with the sale and general operations and leadership remain unchanged. Businesses transitioning with the sale include Baker & Taylor Publisher Services, collectionHQ, Baker & Taylor UK and James Bennett.
About Gary Price
Gary Price (email@example.com) is a librarian, writer, consultant, and frequent conference speaker based in the Washington D.C. metro area. He earned his MLIS degree from Wayne State University in Detroit. Price has won several awards including the SLA Innovations in Technology Award and Alumnus of the Year from the Wayne St. University Library and Information Science Program. From 2006-2009 he was Director of Online Information Services at Ask.com.