Emap has today announced the proposed acquisition of Excelsior, the French publisher, in a deal worth €90 million.
Excelsior owns a number of consumer magazines, which fall into the categories of science and knowledge, women’s fashion and men’s lifestyle. Emap will also take a 70% share in Excelsior Publicite Interdeco, which carries out advertising sales for the titles. The deal is subject to approval from the French competition authorities.
Last year, the acquired assets generated revenues of €63 million and accrued profits before interest and taxation of €6.3 million. The purchase will strengthen Emap’s position in the lucrative French market, an apparent aim of new chief executive Tom Moloney (see Emap Appoints Moloney As New Chief Executive).
“This acquisition makes us the second largest consumer magazine publisher in France in terms of total revenues, strengthening the overall portfolio as well as providing exciting new areas for growth,” he said.
