The Copenhagen affiliate announced that it has acquired Tipsbladet.dk as part of its strategy to become a leading digital sports media company.
Better Collective has agreed to purchase Tipsbladet from Better Collective for EUR6.5m ($6.94m/PS5.59m/$6.94m), in cash and without any debt. The affiliate will pay the amount in cash over three payments.
Better Collective believes that its financial targets for 2023 will remain the same and that, “post-synergy”, 2024 EBITDA will be less than 5x.
The brand was originally a magazine that appeared in print 75 years ago. It has evolved into digital channels with football-related content.
Deal boosts Better Collective Danish presence
Better Collective believes the purchase will enhance its presence in Denmark, allowing it to “further leverage” its position as an important partner for advertisers on the market.
The affiliate also expressed its desire to invest into the growth and development of the football brand, using its SEO and tech expertise to grow its audience.
Jesper Sogaard is the co-founder and CEO at Better Collective. He believes that the acquisition perfectly fits with the sports media vision of the company.
I look forward to welcoming Tipsbladet’s dedicated editorial team to the Better Collective Group and am confident that together we will further elevate the content which has for so many years excited Danish sports fans.
Henrik Stegger Nielsen sees this sale as the culmination of his efforts since 2007 to turn Tipsbladet into a sustainable and healthy business.
“I am happy to say that I have been successful and could not imagine a more suitable buyer for Tipsbladet other than Better Collective.
“I am confident that both will take care of Tipsbladet, and with their ambitions and abilities, they will develop it further.”
Tipsbladet brand future
Allan Olsen believes that the acquisition will be great for Tipsbladet and its future.
Olsen said, “Even though Tipsbladet has experienced a lot of growth in a media world that is under pressure, it’s clear that Better Collective will help the company grow even more.”
We will continue to tell strong football stories, but with Better Collective on our side, we can make the content live and accessible across many platforms.
Financials remain unchanged
Better Collective believes that its financial targets for 2023 will remain the same and that, “post-synergy”, 2024 EBITDA multiples will be less than 5x.
Recently, the affiliate acquired Brazilian sports media outlet Torcedores.com at an undisclosed price.
