Unlock the world of puzzles and brain teasers by subscribing to the Media myFT Digest for free updates directly to your inbox. Dive into the realm of “braintainment” with Keesing, a renowned puzzle media company dating back to its establishment in 1911. As part of a revamp by private equity firm BC Partners, Keesing is set to be put up for sale to capitalize on the growing fascination with engaging games like Wordle.
Here’s what you need to know about this exciting development:
- Keesing, a global leader in puzzles across print, online, and app platforms, offers a diverse range of games from sudoku to crosswords. By producing its magazines and supplying puzzles to various media outlets, Keesing has carved out a prestigious spot in the puzzle industry.
- Among one of the initiatives led by BC Partners is appointing Rothschild to explore strategic opportunities for Keesing. Speculations suggest that a potential sale could fetch up to €550mn, drawing interest from private equity competitors and media companies alike.
- Despite the digital transformation, puzzles have managed to retain their popularity with avid enthusiasts. The purchase of Wordle by the New York Times reflects a strategic move to boost online subscriptions, emphasizing the enduring appeal of puzzles.
- Keesing’s vast repertoire consists of over 13,000 products available in approximately 20 countries, including a catalog of more than 200 digital games. Leveraging a robust content development engine, Keesing tailors puzzles to various themes, languages, and complexity levels.
- Expected to generate €300mn in revenues and €60mn in earnings before interest, tax, depreciation, and amortization this year, Keesing’s expansion journey includes investments in brain training app provider Elevate Labs.
- BC Partners’ acquisition of Keesing in 2021 paved the way for strategic acquisitions such as Kappa Publishing, Pleyades, and Küng Gruppe, bolstering Keesing’s global presence.
- As BC Partners shifts focus towards new investments, Keesing’s potential sale signifies a significant move within the puzzle industry, inviting speculation from potential buyers.
Don’t miss out on the excitement surrounding Keesing’s upcoming sale. Submit your expression of interest and stay tuned for future updates. Join the league of puzzle enthusiasts and experience the thrill of “braintainment” with Keesing.
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