Sanoma Corporation, Press Release, 7 March 2018 at 11:05 CET+1
Sanoma strengthens its position in festival and event business in Finland
Sanoma has entered into an agreement to acquire the festival and event business of N.C.D. Production Ltd. and its group companies. N.C.D. Production is one of the largest festival and event companies in Finland, which organises festivals, concerts and cruises. The acquisition significantly strengthens Sanoma’s cross-media entertainment proposition in Finland. “N.C.D. Production is a perfect fit into our overall entertainment offering in Finland. It operates in the growing market of live events, which in general is also more profitable than the media industry in average. This acquisition is a very good example of our growth strategy: a smaller bolt-on acquisition that complements our existing businesses and creates advantages for advertisers, consumers as well as the creative talents,” says Susan Duinhoven, the President and CEO of Sanoma.
Net sales of the acquired operations were approx. EUR 20 million in 2017. The acquired operations will be moved into a newly established company, of which Sanoma holds 60% and the current owner of N.C.D. Production the remainder.
The transaction is subject to closing conditions including approval of the Finnish Competition and Consumer Authority and is expected to be closed within a couple of months.
Investor Relations, Kaisa Uurasmaa, tel. +358 40 560 5601
Sanoma is a front running media and learning company impacting the lives of millions every day. We provide consumers with engaging content, offer unique marketing solutions to business partners and enable teachers to excel at developing the talents of every child.
With operations in Finland, the Netherlands, Poland, Belgium and Sweden, our net sales totalled EUR 1.4 billion and we employed more than 4,400 professionals in 2017. Sanoma shares are listed on Nasdaq Helsinki.