Reader's Digest targets digital growth following latest acquisition deal
Reader’s Digest publisher Vivat Direct, has been bought by venture capitalist Mike Luckwell, for a reported £1 figure.
The acquisition from Better Capital group, will see the publisher continue to trade as normal, with Reader’s Digest also continuing without interruption.
Plans for the growth of the Reader’s Digest brand have also been disclosed with digital customer acquisition and delivery announced, following the acquisition of the publication’s database of over 1.5 million, which will bring the group total to 2.7 million.
Luckwell said that the acquisition would see a focus on the over-50’s marketplace, claiming that in the UK over 22 million were over the age of 50, but that just 10 per cent of the total advertising spend in the UK each year was used on campaigns targeting the senior market.
“This acquisition of Reader’s Digest is important to the growth of what is at present still a small group with sales of only £20m or so in the coming year but watch this space,” he added.
Reader’s Digest began insolvency proceedings in January 2013, three years after it was acquired by Better Capital.