Castle Harlan to fund Baker & Taylor LBO with debt and equity

By Sara Rosenberg

New York, May 11 - Castle Harlan Inc. is planning to finance its leveraged buyout of Baker & Taylor using new debt and equity, a company spokesman told Prospect News on Thursday.

No further details on the financing package are available at this time, the spokesman added.

Under the transaction agreement, Castle Harlan is purchasing Baker & Taylor for $455 million from Willis Stein & Partners.

Baker & Taylor is a Charlotte, N.C.-based distributor of books, video and music products to public and academic libraries.

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