Asset deal in the German puzzle market Bastei Lübbe sells puzzle magazines to Keesing Media Group (NL)
Bastei Lübbe AG, Cologne, sells its puzzle and Sudoku magazine business to the Dutch Keesing Media Group, Amsterdam, in an asset deal with economic effect from 31 May 2019. This transaction is another proof point of the Company’s portfolio streamlining strategy.
Keesing Media Group is the largest publisher of puzzle magazines in Europe. Keesing publishes a wide range of puzzle magazines in many languages and countries including the Netherlands, France, Belgium, Denmark, Germany, Spain, Italy, Sweden, Norway, Hungary and the United Kingdom. In Germany, the Group operates under the Keesing Deutschland GmbH with a brand portfolio so far consisting of “Megastar”, “Megastar Junior” and “Denksport”.
Bastei Lübbe publishes 33 puzzle magazines under the PMV brand in its “novel booklets and puzzle magazines” segment, at a revenue share of approximately 25%.
The parties have agreed not to disclose the purchase price. Employees will not be taken over by Keesing Media Group. The Supervisory Board of Bastei Lübbe has already approved the transaction.
Carel Halff, CEO of Bastei Lübbe: “We are pleased that our puzzle magazines will be given a new perspective, when being published by the European market leader in an international network in the future.”
Philip Alberdingk Thijm, CEO of Keesing Media Group and Managing Director of Keesing Deutschland GmbH: “With this asset deal we are pushing ahead with our consistent expansion in the European puzzle market. This is an important milestone for our activities in Germany and we are looking forward to the new challenges ahead of us”.
About Bastei Lübbe AG:
Bastei Lübbe AG is a German publishing house with headquarters in Cologne specialised in the publication of books, audio books and e-books with fiction and popular science content. The company’s core business also includes the periodically published puzzle magazines and novel magazines. With its total of twelve publishing houses and imprints, the Bastei Lübbe group of companies currently offers around 3,600 titles in the areas of fiction, non-fiction as well as books for children and young adults. In the growing segment of hardcover fiction books, the company has been one of the market leaders in Germany for many years. At the same time, Bastei Lübbe is an engine for innovation in the area of digital media and distribution channels, among other things by the production of thousands of audio and eBooks. This includes the stake in the renowned game publisher “Daedalic Entertainment”.
With annual sales of approx. 107 million euros (financial year 2017/2018), Bastei Lübbe AG is one of the largest medium-sized publishing companies in Germany. The shares of the company have been listed in the Prime Standard segment on the Frankfurt stock exchange (GSIN A1X3YY, ISIN DE000A1X3YY0) since 2013. Further information is available at www.luebbe.com.
About Keesing Deutschland GmbH & Keesing Media Group (KMG):
Keesing Deutschland GmbH is a wholly owned subsidiary of the Dutch Keesing Media Group (KMG), European market leader in puzzles. KMG has been successful with puzzles in Europe for over 100 years. Under the brands Denksport, Sport Cérébral, Tankesport and Megastar, KMG publishes almost 750 different puzzle publications with a total paid circulation of 96 million copies, inspiring puzzle fans in the Netherlands, France, Belgium, Denmark, Germany, Spain, Italy, Sweden, Norway, Hungary and Great Britain.