We are advising Penguin Random House on the acquisition

Davis Polk is advising Penguin Random House LLC on its acquisition of Hay House. Financial terms of the transaction were not disclosed. As part of Penguin Random House, Hay House will retain its editorial and publishing independence, and Reid Tracy will continue to run Hay House as its CEO post-closing.

Penguin Random House, the world’s largest trade book publisher, was formed in July 2013, by Bertelsmann and Pearson. As of April 2020, Bertelsmann is full owner of the company. With more than 300 imprints and brands on six continents, Penguin Random House employs more than 10,000 people globally, and comprises adult and children’s fiction and nonfiction print and digital English- German- and Spanish-language trade book publishing businesses in more than 20 countries worldwide. With over 16,000 new titles, and more than 700 million print, audio and e-books sold annually, Penguin Random House’s publishing lists include more than 80 Nobel Prize laureates and hundreds of the world’s most widely read authors.

Hay House publishes self-help books and products, as well as calendars, journals and card decks on a wide range of topics, including affirmations, intuition, emotional well-being, energy healing, personal growth, health, meditation, angels and spirit guides, and tarot. Hay House was founded in 1984 by author Louise Hay and is headquartered in Carlsbad, California.

The Davis Polk corporate team includes partner Michael Davis, counsel Daisy Wu and associate Cameron K. Hood. Partner Frank J. Azzopardi and associates Lachlan J. Forrester and Anthony Tran are providing intellectual property advice. The executive compensation team includes partner Kyoko Takashi Lin and counsel Charlotte R. Fabiani. The tax team includes partner Ethan R. Goldman and associate Dov Sussman. All members of the Davis Polk team are based in the New York office.