The Business Post Media Group (BPMG), the publisher of the Business Post, has acquired a number of leading titles including Irish Tatler Magazine, Food & Wine Magazine and Auto Ireland from publisher Irish Studio.
As part of the transaction, Irish Studio will take an equity stake in BPMG. A representative from Irish Studio will join the Board of BPMG. The financial aspects of the transaction are not being disclosed.
This is the latest in a series of transactions undertaken by BPMG since the company acquired the Sunday Business Post just over a year ago. Other acquisitions by BPMG have included iQuest Events and Hospitality Expo and the company has taken equity stakes in Belfast based DigitalDNA and Tribe101 and Speakers Bureau.
Commenting on the deal, Enda O’Coineen of BPMG, said “Our goal is to build out a broadly based media, events and services business anchored around the Sunday Business Post. The titles we have acquired today include some of the best-known titles in Irish publishing and add depth and breadth to our business. We have further exciting plans in the weeks and months ahead and we are delighted with the progress the business has made to date.”
Commenting on the deal, Liam Lynch of Irish Studio said "Since we acquired these brands, we have nurtured and developed them with a keen focus on growing their digital presence. We are delighted to have found a new home and a management team that has the ambition and capability to continue this growth”
“We've been particularly impressed with the BPMG strategy for their core business and that is why we have taken an equity stake in the business and will have a board position " Lynch added. Irish Studio will continue to publish Irish Central, Ireland of the Welcomes & British Heritage Travel with both editorial and sales support remaining in the Dublin office.
Legal advisors on the transaction were: Flynn O'Driscoll for BPMG and DWF Law for Irish Studio.