Better Collective acquired the renowned Danish sports media Tipsbladet for 6.5 million EUR.
Media with the longest tradition:
Tipsbladet established itself as the sports media with the longest tradition in the country and the entire Nordics Come from Sports betting site VPbet. It was founded in 1948, and since then, it survived the transition from print to online media and succeeded in maintaining its position as the leader in the industry. In 2000, the company launched its digital edition, which offered the players various news, articles, and match previews, as well as betting tips, videos, and analysis that make the whole betting experience easier and more exciting.
On October 2nd, the company will officially become a part of Better Collective.
Jesper Søgaard, Co-founder & CEO of Better Collective, commented on this partnership: “I am very proud that we have acquired Tipsbladet, which for 75 years has been a go-to sports media for many Danes that want to engage with prime soccer content. The acquisition fits perfectly with our vision to become the leading digital sports media group and our strategy to acquire strong media brands with a loyal audience. I look very much forward to welcoming the dedicated editorial team at Tipsbladet to the Better Collective group, and I am convinced that together we can further elevate the content that for years has excited so many Danish sports fans.”
The previous acquisition of Tipsbladet occurred in 2007 when Henrik Stegger Nielsen took ownership of the company. Nielsen, as well as all of his employees, will remain in their positions after the Better Collective’s acquisition.
Tipsbladet’s benefits:
Allan Olsen, Editor in Chief at Tipsbladet, says: “For Tipsbladet and its employees, this is a fantastic event. Even though we have experienced lots of growth and great numbers on the bottom line in an otherwise pressured media world, there is no doubt that Better Collective can help push Tipsbladet’s growth even further. We will continue to deliver strong football stories, but with Better Collective behind us, we can really make the content live on many more platforms and reach a wider audience.”
This step will help Better Collective strengthen its position in both Denmark and the global market since Tipsbladet has had a strong media presence since its beginnings. However, the Danish company will benefit from the acquisition since the SEO and tech experts that Better Collective will hire will further increase its online presence.
The acquisition cost 6.5 million EUR, and it will be paid on a cash and debt-free basis. It will be paid in cash in three installments. According to BetterCollective, it is estimated that the 2024 EBITDA multiple will be below 5x, but this year’s financial targets remain the same.
