Reed Regional Newspapers, which have been for sale since July, have been sold to the management team, backed by US based investment firm Kohlberg Kravis Roberts & co.
The 129 reed titles were sold for £205 million, and will transfer over from Reed Elsevier at the end of December. Jim Brown who will be chairman and chief executive of the new company said “the entire management team has worked immensely hard to pull off the acquisition and we are delighted that KKR are backing us with Gleisla, who are their investment arm in Europe. it is our intention to grow the company and keep on building and creating extra value for the future. this has to be good news for the staff.”
The other members of the RRN team who are part of the buy-out are Paul Davidson, deputy chief executive, John Pfeil, Finance Director, Iain Aiken and Phil Radburn, regional managing directors and David Christie, commercial director.
Reed Regional Newspapers: 0181 646 3997
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