The Swedish publishing group Bonnier has taken a strategic minority stake in The Business Post Group.
The investment by Bonnier will still leave Enda O’Coineen as the company’s single largest shareholder and the day-to-day management of the group will not change. Bonnier will also take two seats on the board.
O’Coineen acquired the Business Post in 2018 and since then turnover has grown from from €7.5m to around €22m. Following a number of acquisitions in recent years, the business now revolves around events, publishing, market research, data, software and services.
Bonnier News is a family-owned media group based in Sweden, operating in ten countries with about 8,000 employees. The company had a turnover of €762m last year. The company is the largest publisher of business newspapers in Europe and owns more than 200 brands in 10 countries.
In addition, Bonnier News represents about 47% of the Swedish newspaper market with leading business titles like Dagens Industri, the leading news title Dagens Nyheter, and a leading tabloid called Expressen, in its stable. In addition, it also publishes 30 glossy magazines about health, food and travel as well as 20 niche trade papers and 43 local newspapers.
According to Anders Eriksson, Bonnier News’s CEO: “It’s really exciting to be part of the Business Post Group and the Irish market. We are looking forward to it. We had a hard look at the Irish market, which has great potential. Most of all, we needed a strong respected partner in our pan-European network of B2B titles, and the Business Post is by far the best and most talented for us to work with.”
“For our part, we cherish Bonnier’s 200-year history, its values and partnership model. Bonnier values the integrity and independence of our prestigious brands, the oldest of which, Irish Tatler, dates back 132 years,” adds Enda O’Coineen.
“Important is Bonnier’s wish to maintain my Kilcullen Kapital family office as long-term owners and investors. Their timely investment supports our vision to grow the business in Ireland and globally,” he adds.
“Bonnier News’ digital expertise will compliment all areas of the Business Post Group, which is led by its flagship Business Post news publications but also includes iQuest, BP Experiences, Red C Research and BP Insights. The top-quality content, independent journalism, research and group potential is exciting,” says Peter Fellman, head of Bonnier News Business and editor-in-chief of Swedish daily Dagens industri.