ACC Capital sells Puzzler Media for £85m to DC Thomson representing a very good 3.9x mutiple on the buy-in in 2002.
Founded in 1973, Puzzler Media is the UK’s leading publisher of puzzle magazines and the world’s largest puzzle content provider. It produces 32 titles including the UK market leaders Puzzler, Puzzler Collection and Puzzler Sudoku. We saw the opportunity to invest in an excellent niche business that had strong brands and an experienced management team but also needed a supportive partner to move to the next stage of its development.
During the time of ACC’s investment Puzzler Media has been transformed into the world’s largest puzzle content provider with annual sales of £17 million, publishing more than 40 titles. Under ACC’s ownership the company successfully invested in new media opportunities with significant growth prospects, launched in the Australian market and took full advantage of the popularity of SUDOKU puzzles, which have taken the world by storm. Puzzler launched its own “Sudoku” magazine and is able to offer the puzzles for syndication through its exclusive publishing and syndication deal with Nikoli, the creators of the puzzle.