Under the brand of Ideal, we acquired a group of four leading business magazines from VNU Media Group; Restaurant Business, Food Service Director, Beverage World and Retail Merchandiser.
VNU had themselves acquired these titles, but had been unsuccessful in maintaining their market positions. The overall revenue of the group was falling and they were loss making.
After opening an office in New York City to retain all of the existing personnel, we invested into hiring additional staff and a program of brand expansion. All four titles were successfully relaunched, along with new events and digital products. From these investments, three of the titles regained the number one position in their respective marketplaces.
After an approach by a strategic buyer, we successfully divested these titles. By this point they had seen a 300 percent increase in revenue and were operating with a healthy profit margin.