OpenGate Capital Buys French Consumer PublicationOriginally published April 13, 2012 at 10:45 a.m., updated April 13, 2012 at 5:54 p.m.
Los Angeles private equity firm OpenGate Capital on Friday said it acquired French consumer magazine “Réponse à Tout!” from Paris publisher Groupe Ayache.
Launched in 1990, “Réponse à Tout!” offers advice and opinions on lifestyle trends and is one of France’s most popular monthly consumer magazines. It has more than 550,000 paid readers, and reaches another 550,000 unique visitors a month online. Terms of the transaction were not disclosed.
OpenGate began expanding its focus into the media and entertainment industries with the 2008 acquisition of TVGuide Magazine. It said it plans to modernize "Réponse's" layout, enhance its on-line presence and expand the advertiser base.
“This acquisition goes straight to the core of our strategy: acquire businesses that can benefit from our operational focus and build on the strengths inherent in the asset,” said Chief Executive Andrew Nikou in a statement.
The acquisition is the second strategic add-on for Fleurus Presse, a publisher of children’s magazines acquired by OpenGate Capital in 2009.