US private equity firm Ripplewood Holdings L.L.C. has, together with co-investors, acquired long-established publisher Reader’s Digest. With its main magazine “Reader’s Digest” and 26 other publications, Reader’s Digest reaches more than 100 million readers. The deal is worth approximately EUR 1.8 billion (USD 2.4 billion), including debts assumed by Ripplewood. Ripplewood will be integrating two of its media holdings, WRC Media and Direct Holdings US Corp, into the Reader’s Digest Group.
Ripplewood was established in 1995 by Timothy Collins, and has since invested a total of USD 10 billion in equity in various industries in the US, Europe, Asia and the Middle East. More recently, Ripplewood’s activities on the German market included the acquisition of automotive supplier Honsel.
Gleiss Lutz advised Ripplewood on all aspects of German law. Gleiss Lutz’ team comprised Dr. Jan Bauer (lead), Stefanie Dörner, Dr. Mario Stillig and Dr. Cai Berg (all Corporate/M&A, all Frankfurt), Dr. Burkhard Jäkel, Maximilian von Rom (Banking & Finance, Frankfurt), Dr. Stefanie Beinert and Natalie Schweda (both Tax, Stuttgart). Gleiss Lutz has previously advised Ripplewood on the acquisition of Honsel and on the relevant aspects of German law for the IPO of RHJ International.
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