By LJ Staff

Family-owned Marcel Dekker, publisher of STM titles, is being sold to U.K.-based Taylor & Francis Group, PLC for $138.6 million. The offer consists of $122 million outright, a loan of $1.6 million, and a further contingent cash payment estimated to be about $15 million. Dekker's sales for the year ending December 31, 2002, were $42 million, producing an operating profit of $5.1 million and profit before tax of $3.2 million. Headquartered in New York City, Dekker publishes 78 journals, about 200 new book titles a year, and has a backlist of more than 3000. It has 170 employees.

Taylor & Francis CEO David Smith commented, "This acquisition fits clearly with our strategy of strengthening our product portfolio, expanding our customer base, and extending our international reach.... Taylor & Francis is an acquisitive company and in 2003 we have spent $273.7 million acquiring five businesses. Our strategy remains to grow the business through a combination of organic growth and earnings enhancing acquisitions." The company recently announced the acquisition of Swets & Zeitlinger Publishers, the Dutch-based STM journal and book publisher business being divested by Koninklijke Swets & Zeitlinger Holding NV.