29
June
2007
|
00:00
Europe/Amsterdam

Keesing acquires puzzle magazines of Sanoma Uitgevers

Amsterdam, 29 June 2007 - Dutch-based Sanoma Uitgevers, part of Sanoma Magazines, and Keesing Media Group BV (Keesing), part of Telegraaf Media Groep N.V. announced today that Sanoma Uitgevers has sold its puzzle magazines in the Netherlands to Keesing.

 
After a positive advice of the works council of Sanoma Uitgevers and Keesing Media Group, the Supervisory Board of Keesing Media Group and the due diligence process, the sale is now completed. 
 
In 2006, the puzzle clusters consolidated net sales amounted EUR 12.8 million. The acquisition involves all activities of the puzzle cluster and 23 employees. Sanoma Uitgevers’ puzzle portfolio consists of brands as Puzzelsport, Bingo! and 10 voor Taal. All activities will be transferred to Keesing’s premises in Amsterdam. The acquisition will have retro-active effect as from January 1, 2007.
 
The acquisition of Sanoma Uitgevers’ puzzle activities follows the re-orientation of its position in the puzzle magazine market in the Netherlands. With this acquisition Keesing acquires a line of products that fits perfectly into its own portfolio. In addition, Keesing expects to accomplish a number of synergistic effects through this acquisition.