1st Dec 2005 12:30
Centaur Holdings PLC01 December 2005 Centaur Holdings plc ("Centaur") acquires recruitment industry magazine, web site and awards Centaur, the specialist business publishing and information company, is pleasedto announce that, subject to the completion of employee consultationrequirements, it will acquire Recruiter magazine, its web site and its annualawards event from Redactive Media Group Limited ("Redactive") for £4 million. Recruiter is a leading fortnightly magazine with a 29,430 ABC auditedcirculation, read by recruitment consultants and recruitment agencies. Itsawards take place in March each year. Recruiter's gross profit for the 12 monthsto 28th February 2004, the date of the last published accounts, was £0.65m. Theacquisition is expected to be earnings enhancing in the current financial year.No tangible assets will be transferred to Centaur as a result of thetransaction. The consideration, to be paid to Redactive Media Group Ltd oncompletion, will be £4 million in cash. Graham Sherren, Chairman and Chief Executive of Centaur, said: "Centaur'sstrategy is to serve its chosen markets through multiple media platforms,principally magazines, events and online services. We are very excited at theprospect of including Recruiter in the Centaur "family". It gives us theopportunity to build on this leading title to serve an important new community.This brings the total number of weekly and fortnightly magazines that Centaurpublishes to 11. Our approach is to build on its strength in the markets in which it alreadyoperates, as well as looking for other communities where it can apply itsknowledge and expertise. This latest acquisition reflects the successfulcontinuation of that strategy." Brian Grant, Chief Executive of Redactive Publishing said: "Recruiter is aleading title and we believe it will fit well with Centaur. We have developedthe magazine and its associated products well over the past five years, with aloyal and growing customer base, and believe Centaur is ideally placed to takeit even further." Centaur is one of the UK's leading business-to-business publishers. Centaur'spublications prior to this acquisition include nine weeklies and onefortnightly. Amongst its titles are Marketing Week, New Media Age (NMA), DesignWeek, Creative Review, The Lawyer, Finance Week, Money Marketing and TheEngineer. Most of these titles also have a significant online presence either intheir own right or as part of the mad.co.uk portal. It also has a major Exhibitions division that runs around 20 exhibitions a yearincluding the Business Travel shows, several shows in the marketing andfinancial services sectors and the Homebuilding & Renovating shows. Full details of Centaur Holdings' operations can be found at http://www.centaur.co.uk It is intended that Recruiter operations will be moving to Centaur's offices incentral London in mid-December. Enquiries:Centaur Holdings plc Graham Sherren Tel: 020 7970 4506 Geoff Wilmot Gavin Anderson & Company Richard Constant Tel: 020 7554 1400 Robert Speed Janine Brewis This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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