Rizzoli Buys Chelsea Green
Rizzoli International Publications, the New York City– based subsidiary of Italian publisher the Mondadori Group, has reached an agreement to acquire Chelsea Green Publishing, the Vermont-based independent publisher of books on politics and sustainability, for $5 million. The acquisition is expected to close by the end of June.
Stefano Peccatori, CEO and president of Rizzoli International, said in a statement that the acquisition “opens doors to new opportunities for collaborative projects, innovative titles, and expanded market reach in the English language and global publishing landscape.”
When the deal is completed, Chelsea Green will become an imprint of Rizzoli International. Chelsea Green president and publisher Margo Baldwin will assume the role of publisher emeritus and join the Rizzoli International executive team. Baldwin said in a statement that she’s “thrilled to have Chelsea Green secure its future” as part of the Mondadori group. “This alliance will enable new growth and international expansion for our titles as well as significant new opportunities for our authors and employees.”
Notably, Chelsea Green has been fully employee owned since 2019, and a Rizzoli rep confirmed that all participants in the publisher’s employee stock ownership plan will share in the proceeds from the sale, with the amount paid dependent upon compensation level and their time at the company. Current Chelsea Green employees, including 17 in the U.S. and four in its U.K. subsidiary, will continue to work for the publisher under Rizzoli International.
Founded in 1984 by Ian and Margo Baldwin, Chelsea Green has been a pioneering publisher of books on sustainability as well as a leader on sustainable practices in the publishing business. It has also published political books of note, including books by Sen. Bernie Sanders and Naomi Wolf. The publisher has appeared on PW’s fast-growing independent publisher list several times, most recently in 2021. In 2022, it had sales of $8.1 million.