Future acquires Centaur Media's home interest division
Future has acquired Centaur Media's home interest division for £32.0m.
The deal, which is conditional upon the approval of Centaur Media's shareholders, includes the brands Homebuilding & Renovating, Period Living, and Real Homes, and comprises seven exhibitions as well as print and digital assets.
CEO Zillah ByngThorne said the move would significantly add to Future's scale and momentum, while further diversifying its revenue streams.
The acquisition is expected to be "materially earnings enhancing" in the first full year of ownership.
ByngThorne said: "The Home Interest division brings a strong management team and market-leading access to an attractive new vertical with clear growth potential.
"Home Interest's brands, market position, industry leading events, and quality content are a strong fit and will further reinforce our position as a trusted destination for consumers and for our customers."
News of the acquisition follows Centaur's announcement in March that it intended to sell the division and coincides with its purchase of B2B marketing services business MarketMakers.
MarketMakers, and its division ReallyB2B, adds B2B telemarketing, data analytics, database enrichment, and automated lead generation to the Centaur portfolio.
CEO Andria Vidler described the transactions as a "major step forward" in the company's transformation into a B2B-focussed business and providing its customer base with a range of higher value-added products and services.
“I’m personally very proud of Home Interest and convinced that Future will provide the next step in its journey of success. It’s a remarkable story that has come from commitment, hard work, and innovation,” she said, adding: "The process of taking Centaur up the B2B value chain continues, and these transactions are very significant steps forward in our ambitions.”