Bonnnier Corp. has acquired Working Mother magazine publisher Working Mother Media Inc. from MCG Capital and founding CEO Carol Evans. Financial terms were not disclosed.
Bonnier has no plans to fold Working Mother into either of its other publications, including Parenting and Babytalk, a spokesperson tells FOLIO:. No layoffs are associated with the deal.
According to Bonnier CEO Terry Snow, the acquisition is a “perfect fit,” and “allows us to strengthen our foothold in the mom market and offer advertisers the most comprehensive variety of media platforms reaching mom consumers.”
“This is a very strategic and smart buy,” Berkery Noyes managing director Chris Shannon tells FOLIO:. “Bonnier is building a strong women’s vertical and also has scale which is what Working Mother Media needed.”
Over the first half, Working Mother’s ad pages were up 19.2 percent, according to Publishers Information Bureau figures. In addition to the eight-times-per-year magazine, Working Mother Media also includes a conferences and events division.
This is Bonnier’s first acquisition since Sweden’s Bonnier Group combined its U.S. magazine partner, World Publications, with its acquisition of 18 media properties from Time Inc.’s enthusiast Time4Media group last year.
The Working Mother deal was brokered by AdMedia Partners.