NHST Media Group acquires 100% of shares in INTRAFISH MEDIA
NHST Media Group - which has owned 60% of the shares in IntraFish Media - is acquiring the remaining 40% from A-pressen for MNOK 24.8. This prices the company at MNOK 62. IntraFish Media has been strategically and operationally integrated with NHST Media Group's other activities for a number of years. Therefore the acquisition is not triggering any great changes either for NHST Media Group or for IntraFish Media. The acquisition has been planned for a long time, reports www.megafishnet.com with reference to Intrafish.
IntraFish is recognised as the world's leading seafood publication with more than 20,000 paying subscribers in total throughout the world (104 countries). IntraFish comprises the following titles: IntraFish.com and IntraFish.no, FiskeribladetFiskaren, FBFI.no, Seafood International, Seafood Processor, FishFarming International, Fishing News International, Fishing News weekly and Rybatskaya Gazeta. In 2010 IntraFish had revenues of MNOK 82 (MNOK 89 in 2009) and a profit of MNOK 2.4 (-13.0 in 2009). IntraFish has 80 employees. and is represented in Bergen, Bodø, Tromsø, Harstad, Oslo, London, Singapore, Seattle, Stamford and Puerto Montt. IntraFish Media was developed as a result of new formations, mergers and acquisitions during the last 10 years. The oldest titles included are Fishing News and FiskeribladetFiskaren (Fiskaren) which are 98 and 88 years old respectively. IntraFish was originally launched as a "fax-newspaper" for the fish farming industry in Norway in the 1990s, and later as a website in Norwegian and English. IntraFish.com and .no were amongst the first websites that were restricted to just subscribers - 2001. IntraFish was more closely integrated with Fiskaren in 2001 in order to create a stronger unit under the umbrella of IntraFish Media. Fiskaren and Fiskeribladet were merged in 2007 and are owned 66 % by IntraFish (Råfisklaget - The Norwegian Fishermen's Sales Organisation - owns 34 %). IntraFish bought Heigway Publications from Informa Group in 2007. IntraFish is integrated into NHST's global network. In future the Europe/Norway element will continue to be the largest market, but more and more of the growth will come from the Americas and Asia. The Asia operations are led from the Singapore office which has recently been expanded.
NHST Group Chief Executive Officer Gunnar Bjørkavag comments: "I am very pleased that this shares acquisition has now been completed. IntraFish is a key element in NHST's group strategy, in which an important sub-strategy is to develop leading publications in seafood/fisheries and fish farming. IntraFish has been integrated into NHST since 2001. Thus this shares acquisition has been planned for a long time. I should like to thank A-pressen for good and constructive collaboration over a number of years in an exciting, but also demanding, sector. The opportunities for IntraFish are great since demand for seafood is rising for population and health reasons, it is an industry that is being industrialised and conceptualised with new brands with advertising needs, IntraFish's market position is clearly leading and I am pleased with the expertise and competitiveness in the organisation. It has been a demanding journey in order to arrive where we are now - and now the opportunities are greater than ever."
A-Pressen's Group Director/COO John Kvadsheim says after the sale: "Intrafish Media is an exciting company, which we see as well positioned in a growing industry. At the same time this is a company and an industry that we have defined as outside our core strategy. We are therefore pleased that we have found a solution together with NHST which we both see as right."
Pal Korneliussen, publisher of IntraFish, comments: "Few if any owners have the ability, will and patience to develop global publications, particularly in niches. The acquisition does not change our everyday life or strategy, but confirms NHST's long-term investment in the seafood industry. Even though we have a leading position globally there is fortunately a great deal not yet done, particularly in Asia, but also many other places in the world. I should also like to thank A-pressen for a long and good collaboration."
For further comments contact:
Pal Korneliussen, publisher of IntraFish, +47 911 955 88
Gunnar Bjorkavag, CEO, NHST Media Group, +47 900 310 29
John Kvadsheim, Group Director (COO), A-pressen, +47 913 882 84