Mondadori acquires 51% of Waimea, Benedetta Rossi's company
The transaction involves the initial acquisition by Mondadori of 51% of the share capital of Waimea, whose revenues and Ebitda 2023 amount to €4.5 million and €2.7 million respectively, on terms that reflect an enterprise value (for 100% of the company) on a cash&debt free basis of €13.5 million
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The Mondadori Group has announced that, as a result of the acceptance of a binding offer, essential terms and conditions have been defined for the acquisition, by the subsidiary Mondadori Media, of 51% of the share capital of Waimea, the company that owns all intellectual property rights and economic exploitation of the image of Benedetta Rossi and Marco Gentili.
Waimea is 97.9% owned by Benedetta Rossi and Marco Gentili (individually and through the company Maui Media) and 2.10% on an equal basis by Emiliano Messeni and Marco Iacobellis.
The transaction involves the initial acquisition by Mondadori of 51% of the share capital of Waimea, whose revenues and Ebitda 2023 amount to EUR 4.5 million and EUR 2.7 million respectively, on terms that reflect an enterprise value (for 100% of the company) on a cash & debt free basis of EUR 13.5 million.
As a result, the price, which will be paid entirely in cash at the closing, is €6.9 million. With this operation, the Mondadori Group intends to create, through the coordinated and synergic management of the activities linked to the Fatto in casa da Benedetta brand and GialloZafferano, the leading multimedia player in the food & cooking sector, both in digital and traditional media.
The terms of the Mondadori Group's transaction also envisage a variable component, to be defined on the basis of the results for the two-year period 2023-2024 and the financial year 2026, the valuation of which, also by virtue of a contractual 'cap' mechanism, is estimated at a total amount in any case not exceeding EUR 3.2 million.
