G+J And Landwirtschaftsverlag Plan Joint Venture
G+J to contribute “Essen & Trinken” among other assets, Landwirtschaftsverlag to contribute “Landlust” as part of the JV
Gruner + Jahr and the Münster-based publisher Landwirtschaftsverlag have signed a letter of intent to enter into a 50/50 joint venture. The final contracts are now being drawn up. The transaction is still subject to final approval by the supervisory bodies of the two partners and Germany’s Federal Cartel Office.
Both publishers are contributing part of their magazine business to the joint venture. In Gruner + Jahr’s case, the assets in question are Germany's biggest food magazine “Essen & Trinken,” “Essen & Trinken für jeden Tag,” “Flow” and “Living at Home.” Landwirtschaftsverlag will contribute “Landlust,” one of the country’s most widely read popular magazines, and “Einfach Hausgemacht.” All special issues, merchandising products and websites of the titles are also included in the agreement. The responsible staff, in particular the editorial teams, will remain at their respective offices.
The aim of the joint undertaking is to further strengthen the market position of the titles and expand and develop new products for the “Land, Food and Living” segment. Here, both companies are banking on the extensive expertise of the magazines.
Landwirtschaftsverlag CEO Hermann Bimberg says: "For one, we still see considerable potential for popular media about rural living. And for another, Gruner + Jahr is the best partner for us to successfully expand our range of media along the ‘food chain’ from food production to retail and food consumption.”
Stephan Schäfer, Chief Product Officer at Gruner + Jahr, adds: "Both publishers have proven that they know how to inspire millions of people. Together, we will be able to develop the circulation and advertising market even more intensely. But most of all we look forward to developing new businesses together.”
