British education company Pearson has sold Éditions du renouveau pédagogique (ERPI) to TC Media, a unit of Montreal-based media, publishing and packaging company Transcontinental.
Established in 1965 and based in Québec, ERPI is an educational publisher acquired by Pearson in 1989.
Patrick Lutzy, president of TC Media, said: “This acquisition fits perfectly with our growth strategy as it complements TC Media’s educational products offering, both print and digital, and provides an opportunity to further grow ERPI’s brand alongside our brands such as Chenelière Éducation, Beauchemin and Modulo.”
This sale is part of Pearson’s disposal strategy of its local publishing businesses, which was announced in March 2021. As part of this strategy, Pearson recently sold its K12 learning content business in Italy and its small exam preparation business in Germany to Finnish media group Sanoma for €190 million.
Prior to this, Pearson disposed of its Brazilian sistemas business in October 2021 for £108m. The company is likely to sell additional assets in North America and Asia in the coming months.
TC Media is a Canadian French-language educational publishing group and trade book publisher. The company is part of listed business Transcontinental, which specialises in flexible packaging as well as French-language educational publishing.
Employing 8,000 staff across Canada, the US and Latin America, Transcontinental generates annual revenues of around $2 billion.
Date Published: 14 June 2022