BSR
BSR
  • Home
  • Distressed Businesses
    • All Distressed Businessess
    • Administrations
    • Liquidations
    • Winding Up
    • Insolvency Advice  New
  • Buy a Business
    • All Businesses for Sale
    • Find a Business for Sale
    • Raising Business Finance
    • Buyer Acquisition Service   New
    • Escrow Service   New
  • Sell a Business
    • Sell Your Business
    • Seller Accounts
    • Need Help Selling?
    • Help With Finance New
    • Business Valuation
    • Business Wanted Adverts
  • Insights & News
    • View All News
    • View All Insights
  • Off-market
    • Source deals
  • Log In
  • Join Now
Join now
11111111

Home / News / Magazine publisher Future agrees £594m GoCompare deal

Magazine publisher Future agrees £594m GoCompare deal

Thu, 26 Nov 2020 | BUSINESS SALE

Magazine publisher Future agrees £594m GoCompare deal

Magazine publisher Future has agreed a £594 million cash-and-shares takeover of comparison website GoCompare. Future has warned that job losses among GoCompare’s 400-strong staff are likely, as it looks to achieve £10 million in cost savings by stripping out duplication in the head office and back office functions.

While Future has committed to maintaining GoCompare’s Newport, South Wales site, it is thought that the Soho head office will be shut.

Future is one of the UK’s biggest magazine publishers, with its publications including Total Guitar, Marie Claire and Country Life. The deal will see it pay 136p per share and offer stock in the combined entity, with GoCompare investors set to own around 19 per cent of the group post-deal.

It is thought that GoCompare Chairman Sir Peter Wood will earn around £41 million from the deal, with the terms valuing his 29.7 per cent stake at close to £170 million. Wood will also become one of Future’s top five shareholders, with a 5.5 per cent stake.

The deal was unanimously backed by GoCompare’s board, with 33.6 per cent of shareholders (including Wood) already having approved the deal.

Wood founded Direct Line in 1985 and Esure, the company behind Sheila’s Wheels, in 1999. GoCompare, perhaps best known for its adverts featuring fictional opera singer Gio Compario, was founded in Newport in 2006 before being acquired by Esure in 2015. The company was spun out of Esure in 2016.

Sir Peter Wood said: "In just four years since its demerger from Esure Group, GoCo Group (GoCompare) has created significant shareholder value while successfully transforming from a UK price comparison website into a technology-led business.

"Future's market-leading global platform for specialist media and content offers GoCo Group a unique opportunity to materially accelerate its growth plans, reduce customer acquisition costs and increase its addressable market."

Future Chairman Richard Huntingford added: "The combination is a unique strategic opportunity to create a leading global specialist media and intent platform."


Find businesses for sale here.

If you are looking for an exit, we can help!


Share this article



Latest Businesses for Sale

Provider of ICT Support & Consultancy Services
UK Wide

The company’s offering comprises intelligent, realistic consultancy services in line with each client’s specific requirements and budget. This is backed up by engineers with a strong working knowledge of each business’s infrastructure, thus enabling...

Asking Price: Offers Invited
Turnover: £760,000

LEASEHOLD


HR Consultancy Practice
UK Wide

An outsourced employment law and HR specialist offering a comprehensive range of services for clients throughout the UK.

Asking Price: Offers Invited
Turnover: £500,000

LEASEHOLD


Consultancy Specialising in Design Management & Project Controls
UK Wide

A specialist consultancy providing project controls/planning, design management and workflow optimisation support for clients across the UK, the USA and the EU. The company’s comprehensive service offering helps clients plan, manage and control th...

Asking Price: Offers Invited
Turnover: £2,600,000

LEASEHOLD



View more businesses for sale

News Search

Latest News

 
30
 
Jan
 

Bakery manufacturer acquired at 6.3x underlying earnings | BUSINESS SALE

Bakery firm Lees Foods has been acquired by listed bakery bu...

 
30
 
Jan
 

“Unique” intellectual property for sale as disability equipment firm enters by liquidation | ADMINISTRATION

The assets and intellectual property of disability equipment...

 
27
 
Jan
 

Administrators to sell assets as office furniture maker collapses | ADMINISTRATION

Bluespot Furniture, a West Yorkshire-based furniture manufac...

Free guide: 10 Biggest Buyer Mistakes

Sign up to receive our acquisition alert emails to get your FREE guide

Email


Related News

 
07
 
Jun
 

GoCompare to be offloaded in esure division sale | DIVISION SALE

Insurance giant esure has launched a strategic review into i...

 
10
 
Dec
 

Gocompare and Esure brought together in £95m deal | BUSINESS SALE

Price comparison site Gocompare.com is to be bought by Esure...

Want access to the latest businesses for sale?

Business Sale Report is your complete solution to finding great acquisition opportunities.

Join today to receive:

  • Comprehensive range of businesses for sale
  • Make direct contact with business sellers or their intermediaries
  • Access to all UK administrations, liquidations and winding-up petitions
  • Daily email alerts for the latest businesses for sale & distressed notifications
  • Business Sale Report publication posted to you every month
  • Advertise your acquisition requirements on our "business wanted" section

All this and much more, including the latest M&A news and exclusive resources

Become a Member

News Categories

  • - Business Sale
  • - Division Sale
  • - Administration
  • - MBO/MBI
  • - Merger
  • - Commercial Property

View all news

logo
Our Services Distressed Businesses
  • Businesses for Sale
  • Distressed Companies
  • List a Business
  • Help with Finance
  • Buyer Acquisition Service
  • Small Businesses for Sale
Company Buy a Business
  • About BSR
  • Insights
  • News
  • FAQs
  • Reviews
Get In Touch
020 8875 0200
[email protected]
167 Oakhill Road, London, SW15 2QW
Working hours: Mon-Fri, 9am - 5:30pm
About BSR
Business Sale Report is the UK's leading
independent business for sale & distressed business listing service.
Established in 1995, BSR offers an up-to-the-minute, comprehensive overview of businesses for sale, latest distressed business listings and daily acquisition news.
Subscribe

Subscribe to our newsletter to receive news about the latest businesses for sale.

  • Terms
  • Privacy
  • linkedin
  • facebook
  • twitter
© 1995-2023. Business Sale Report Ltd. All rights reserved. www.business-sale.com.