A consortium that includes Germany’s oldest publishing family, the Herders, has purchased a majority stake in Germany’s largest bookstore chain Thalia from private-equity firm Advent International, the participants announced Monday.
Though the participants didn’t disclose a sum, sources told Handelsblatt that Thalia, with its more than 280 locations, sold for a three-figure million euro sum. The German competition authorities still have to approve the deal.
The Thalia deal is the latest in a series of sales by Advent. The private equity firm bought a majority stake in the retail consortium Douglas Holding in 2012 from its founders, the Kreke family, who maintain a 20-percent stake.