The LVMH group announced on Monday the acquisition of a publisher of fine, luxurious books devoted to the arts, Citadelles & Mazenod.
The acquisition is made via the media subsidiary of LVMH, the Les Echos-Le Parisien Group, which publishes the magazine Connaissance des Arts.
The amount of the acquisition was not disclosed.
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"
With Citadelles & Mazenod, we are pursuing our acquisition strategy which consists in always strengthening our strengths, and bringing our mission to life of disseminating the best cultural and artistic content to a wide audience
", commented in a press release the CEO of this subsidiary, Pierre Louette.
The current CEO of Citadelles & Mazenod, Matthieu de Waresquiel, will remain in his role.
Founded in 1936, the house was taken over from publisher and artist Lucien Mazenod in 1984, when it bore that name.
It had been renamed Citadelles, then Citadelles & Mazenod.
Today, it offers books that are among the most expensive on the market, claiming "an
extreme quality of the works, as much by their iconographic, scientific and aesthetic content as by their manufacture, the regularity and the exemplary nature of the publications
".
According to the latest annual accounts published by the company, its turnover was 4.6 million euros in 2018.