APN News & Media Limited (APN) announced it has acquired a majority stake in one of Australia’s leading eCommerce businesses. brandsExclusive, an online shopping club which partners directly with premium brands to offer exclusive sales to members with heavy discounts off recommended retail prices. Under the terms of the transaction APN has taken an 82% equity stake for an up-front investment of $36m. An additional payment of up to $30m is contingent on achieving earnings targets for 2013.
APN Chief Executive, Brett Chenoweth said “This investment is a significant move towards repositioning APN for growth and will substantially ramp up our digital revenue and earnings trajectory. We believe there is tremendous value to be unlocked in the global shift towards eCommerce which will be a core part of the digital media landscape in the future. I expect this will be one of the largest digital deals in Australia this year, emphasizing the importance which we place on having the right digital assets.”
APN Chief Development Officer, Matt Crockett said “The acquisition of brandsExclusive reflects our strategy of connecting existing media assets with high growth digital transaction businesses brandsExclusive is one of the best eCommerce assets in Australasia and we are delighted to bring it into our growing digital portfolio. “Like Grabone, our very successful group buying business, brandsExclusive enables commercial transactions between advertisers and an online member-based audience. Importantly for APN, we are forging a partnership with two of Australia’s best eCommerce entrepreneurs, Daniel Jarosch and Rolf Weber, who will retain a substantial equity holding in the business.” brandsExclusive Co-Managing Director, Daniel Jarosch said “brandsExclusive is about to enter our next significant stage of growth. We believe we have found a fantastic partner in APN – a local partner who shares our bold vision and with whom we can work with collaboratively to help shape the future of eCommerce in Australia.”
Tags: acquisition, APN, APN News & Media, MediaA, Online sales
