Emap has today announced the proposed acquisition of Excelsior, the French publisher, in a deal worth Â90 million.
Last year, the acquired assets generated revenues of Â63 million and accrued profits before interest and taxation of Â6.3 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.