Heritage in transition...

The bookworld back channel is abuzz with word that Heritage Books is in transition. My very cursory search for information indicates that a foreign businessman, in an effort to acquire a block or so of Beverly Hills real estate, offered the owners, Lou included, something on the order of a 20% premium over appraised value. In this case, one can assume it was +/-$10MM, that is, a tidy retirement sum, if one were so inclined.

It appears that Lou will continue working with a handful of clients and it appears Ben, et al, will keep the heritage of Heritage running, though where and in what form remains to be seen. Heritage, founded in 1963 by Louis and Benjamin Weinstein, is...well...Heritage Book Shop. This is either going to have major implications for the rare book world...or it won't. I'm guessing the will find new and lovely digs and keep being being Heritage. Regardless, it will be interesting to see how it all plays out.