The Copenhagen-based affiliate has announced the acquisition of Tipsbladet.dk in line with its strategy to become the leading digital sports media group.
Better Collective is purchasing Tipsbladet for €6.5m (£5.59m/$6.94m) on a cash and debt-free basis. The affiliate will finance the figure with cash and pay it in three installments.
Better Collective estimates that the “post synergy” 2024 EBITDA multiple will be below 5x and its 2023 financial targets remain unchanged.
The acquired brand started life 75 years ago as a printed magazine and has now developed into digital channels covering football content.
Deal increases Better Collective Danish presence
Better Collective believes that the purchase will increase its presence in Denmark in order to “further leverage its position as a key partner for advertisers in the market.”
The affiliate has also highlighted its desire to invest in the development and growth of the football brand by using its tech and SEO expertise to help grow its audience.
Jesper Søgaard, co-founder and CEO of Better Collective, thinks that the acquisition fits perfectly with the company’s sports media vision.
“I look very much forward to welcoming the dedicated editorial team at Tipsbladet to the Better Collective group and I am convinced that together we can further elevate the content that for years has excited so many Danish sports fans.”
Henrik Stegger Nielsen, the former owner of Tipsbladet, sees the sale as a success of his mission since 2007 to make it a healthy and sustainable business.
“I have succeeded, and I could hardly imagine a better buyer for Tipsbladet than Better Collective.
“I know that they will both take good care of Tipsbladet and, with its ambitions and competencies, develop it even further,"
Tipsbladet brand future
Meanwhile, Allan Olsen, editor-in-chief at Tipsbladet, believes the acquisition is great for the brand and its future.
“Even though we have experienced lots of growth and great numbers on the bottom line in an otherwise pressured media world, there is no doubt that Better Collective can help push Tipsbladet's growth even further,” said Olsen.
“We will continue to deliver strong football stories, but with Better Collective behind us, we can really make the content live on many more platforms and reach a wider audience.”
Financials remain unchanged
Better Collective estimates that the “post synergy” 2024 EBITDA multiple will be below 5x and its 2023 financial targets remain unchanged.
The affiliate also recently acquired Brazilian sports media platform Torcedores.com for an undisclosed amount.