Future announces sale of Trucking and Truckstop News
Future Publishing has today announced the sale of Trucking and Truckstop News to Kelsey Publishing Limited.
The brands and their associated assets have been acquired for a consideration of up to £1.1m − £1m of the gross consideration in cash at completion, with a further £0.1m deferred subject to the financial performance of the assets over the next 12 months.
Mark Wood, Future Publishing CEO, said: “Trucking and Truckstop News are successful and popular titles, but as we focus increasingly on our digital and global growth strategies they are no longer core to Future’s operations. Kelsey is an ideal new home for these specialist magazines and they will flourish there. I would like to thank the Trucking team for all their hard work and superb commitment, and wish them all the best in the future.”
Steve Wright, managing director of Kelsey Publishing, added: “We are delighted to announce that Kelsey has acquired Trucking and Truckstop News. We recognise the strength and potential for these brands within our business. Both titles fit naturally within our portfolio of transport magazines.”