LINCOLN, Neb. and WESTCHESTER, Ill.–Nebraska Book Holdings, Inc. ("NBC") and Follett Higher Education Group ("FHEG") today announced a strategic sourcing partnership to expand access, efficiency and savings to institutions involved in wholesale course materials sourcing and selling.
Through the partnership NBC will expand its wholesale services business by assuming FHEG's independently managed store accounts. FHEG, in turn, will shift its focus from physical wholesale services to Follett Marketplace and Valorebooks.com, the company's online marketplaceplatformsfor buying, selling and renting books.
"NBC is well positioned for the expansion of our course materials division," said Jay Amond, CEO of NBC. "With our recent capital restructuring, EPEG certification, and this transaction, NBC is committed to deliver even more affordable course materials to our independent store customers."
"We look forward to accelerated growth of the Follett Marketplace through our strategic sourcing partnership with Nebraska Book Company," said Clay Wahl, President of FHEG. "Applying the complementary strengths of Follett and NBC across our substantial wholesale sourcing channels will create powerful course material solutions for customers and more affordable options for students."
"We are excited to expand the talent of our team and expand our customer base," said Kara Bunde-Dunn, SVP of Sales and Marketing for NBC. "We are confident this partnership will increase our sales and distribution channels, providing more quality inventory for our independent store customers."
About Nebraska Book Holdings
NBC began in 1915 as an independent college bookstore. The company has evolved into a key resource and consulting partner to over 2,000 college retailers nationwide, providing textbook and technology solutions which support student success and strengthen higher education retail across the United States, Canada and the Caribbean. In addition to being one of North America's largest textbook distributors, NBC's subsidiaries include PrismRBS, College Store Design and Campus Advisory Services. For more information about NBC, visit http://nebook.com.
About Follett Marketplace
The Follett Marketplace is an online marketplace built to meet the needs of campus and industry customers who buy and sell course materials. It was developed by Follett following the company's 2016 acquisitions of Valore Inc., Valorebooks.com and Wobo Inc.
About Follett Corporation
Follett Corporation is the world's largest single source of books, entertainment products, digital content and multimedia for libraries, schools and retailers. Headquartered in Westchester, Illinois, Follett provides education technology, services and physical and digital content to millions of students at 70,000 schools and more than 2,850 physical and virtual campus stores in North America. Through Baker & Taylor, Follett's reach also extends to the public library and global retail markets. For more information, visit www.follett.com.