Dec 15, 2021

Booktopia announced a partnership with UK-based publisher, Welbeck, this morning. Alice de Bruin is a financial journalist at The Motley Fool Australia with a background in news reporting. She is also an investor, a fiction writer and biographer. She has a Bachelor of Media (Communication) from RMIT University in Melbourne and writes from Adelaide, South Australia. Latest posts by Alice de Bruin ( see all ) Image source: Getty Images Shares in Booktopia Group Ltd (ASX: BKG) have had a mixed day today after the company announced a collaboration with an international publisher. Booktopia has entered into a publishing and distribution partnership with Welbeck Publishing Group based in the United Kingdom. The Booktopia share price leapt 6% to an intraday high of $1.80 near the market open, before plummeting back to its previous closing price of $1.70. At the close of trade today, shares in the company had lifted again and were trading 2.05% higher at $1.74. More on the partnership… Earlier this year, the publisher told investors it would secure a 25% stake in the UK-based company’s new standalone subsidiary, Welbeck Australia (WPGANZ) for around $3 million. In today’s announcement, the company advised that these agreements had been executed. Now, under this new partnership, Booktopia will distribute WPGANZ’s catalogue of around 300 new titles per year. Welbeck’s existing distribution agreement with giant Allen & Unwin and United Book Distributors will be transferred to Booktopia Publisher Services (BPS) by the end of the first quarter next year. The company noted that the move would not only make WPGANZ the local publisher for Welbeck UK’s backlist of around 4,500 titles, it would also create an opportunity for Welbeck to build a local editorial team to publish Australian and New Zealand authors. The aim would be to bring in 50 new titles to the market each year. Booktopia founder and chief executive Tony Nash welcomed the news, saying: Welbeck is a highly-regarded and significant player in the book industry, and we are very excited about the opportunity to partner with them as they grow their presence in Australia and New Zealand. The partnership and investment in Welbeck Australia will diversify and enhance our future income streams while growing our scale and strategic presence in the publishing and distribution segments of the book industry. Booktopia share price snapshot  The Booktopia share price has fallen more than 37% in the past 12 months, with much of the drop happening since its 52-week high of $3.06 in September. The publisher has fallen 33.5% this year to date. The company has a market cap of $245.86 million at the time of writing. Should you invest $1,000 in Booktopia right now? Before you consider Booktopia, you'll want to hear this. Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now... and Booktopia wasn't one of them. The online investing service he’s run for nearly a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more. * And right now, Scott thinks there are 5 stocks that are better buys.