EMAP Becomes France’s Second Largest Consumer Mags Publisher
EMAP has been given competition clearance to acquire France’s Excelsior Publications, propelling it to the number two spot in the country’s consumer magazing publishing sector.
The deal was originally announced on 2 April, but required approval from the French competition authorities before it could go ahead (see Emap Raises Profile With French Acquisition).
The newly acquired titles will be run by the existing EMAP France management team, led by president directeur general Arnaud de Puyfontaine.
EMAP is paying €90 million (£62 million) plus the value of any cash in the business for Excelsior and says that the transaction will be earnings-enhancing in the current financial year.
