World Publications, a publishier of special-interest publications and related media products, has sold a major stake in its company to Bonnier Magazine Group, a family-owned, Swedish-based media group comprised of newspapers, magazines, books and entertainment properties, World CEO Terry Snow announced today. This is Bonnier's first major foray into the U.S. magazine field.

The deal provides World with the backing to fuel an aggressive growth plan that includes new acquisitions, brand extensions and growth of existing magazines. Revenue is targeted to reach $500 million over the next decade. Bonnier's partnership replaces private equity firm Boston Ventures' minority investment in World. "Boston Ventures' support and backing has enabled us to more than double the size of our company," Snow said in a statement. "We now have a strategic partner in Bonnier to take us to the next level in publishing."

Bonnier is a 200-year-old company with approximately $2.5 billion in annual revenue. Snow founded World in 1978. Based in Stockholm, Bonnier has operations in more than 20 countries, including magazine divisions in Denmark, Norway, Sweden, Finland and Spain. Some of its best-known titles are Illustreret Videnskab, a popular science magazine, and Bo Bedre, a home-and-garden monthly. The agreement includes the opportunity for Bonnier to increase its ownership stake in World over time.