Surrey-based Heritage House Publishing has acquired all assets of Greystone Books, a publishing imprint from Vancouver-based D&M Publishers, which filed for creditor protection in October 2012.
The transaction was announced yesterday by Rodger Touchie, president of Heritage House, and Rob Sanders, founding publisher of Greystone Books.
Under the asset purchase, which has already achieved court approval, the Greystone Books assets will become a separate company, Greystone Books Ltd.
Sanders will immediately assume the role of publisher of the new company, of which he is a significant shareholder.
According to a press release issued yesterday, Touchie initiated the asset purchase, with the assistance of Greystone business partners, including the New York-based Perseus Books Group.
Greystone will announce a list of new 2013 books in the next few weeks.
Sanders called the transaction "a good news story in an industry where good news is badly needed right now."
"Rodger Touchie's phone call initiated the rebirth of Greystone Books," he said. "It is good for the authors, for those of us involved in the ongoing publishing program, and for independent publishing in Canada."
