The Danish affiliate group has bought the site for €6.5m.
Denmark.- Copenhagen-based affiliate Better Collective has snapped up the Danish football content site Tipsbladet.dk for €6.5m in cash. It will pay in three instalments for a brand that began as a print magazine 75 years ago.
Better Collective said the acquisition is in line with its strategy to become the leading digital sports betting media group and will increase its presence in its native Denmark. It estimates a post-synergy 2024 EBITDA multiple of below 5x. Financial targets for 2023 are unchanged.
The company said it plans to invest in the development and growth of the brand and to use tech and SEO expertise to grow its audience.
Better Collective CEO Jesper Søgaard said: “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.”
Former Tipsbladet owner Henrik Stegger Nielsen said: “I could hardly imagine a better buyer for Tipsbladet than Better Collective. I know that they will both take good care of Tipsbladet and, with its ambitions and competencies, develop it even further.”
Editor-in-chief Allan Olsen said: “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.”
The deal comes on the heels of Better Collective’s acquisition of Torcedores.com, its first Brazilian sports media platform. It intends to strengthen its presence in South America following the creation of a dedicated unit in Brazil and a move to a new office in Rio de Janeiro.