Century City buyout firm OpenGate Capital has purchased three Southern California coupon and advertising publications, the company announced Monday.
In the deal, OpenGate will acquire coupon publications “Monthly Mailer” and “South Bay Monthly” of Hermosa Beach, as well as “OC Monthly.” The papers are delivered to a total of 486,000 households in 57 Southern California zip codes.
The purchase was made through OpenGate’s PennySaver USA division, which owns and operates the PennySaver coupon and classifieds mailer. The sellers are the two founders of the periodicals, Brandon Ligthart and Matthew Kinser. Terms of the deal were not disclosed.
Liz Gaier, chief executive at PennySaver USA, said the addition of Monthly Mailer’s glossy magazine will help expand Pennysaver’s audience.
“The Monthly Mailer publications are an excellent complement to PennySaver’s weekly direct mail business and digital services,” Gaier said in a statement. “Adding a glossy magazine to our product line is a perfect solution to reach the communities currently underserved by the PennySaver, and the distribution will provide access for our advertisers to reach a much wider audience.”