APN takes a stake in brandsExclusive

APN News and Media CEO Brett Chenoweth has delivered some great news in a tough week of media announcements.

Mr Chenoweth announced that APN (owners of The Chronicle) had acquired a majority stake in one of Australia's leading eCommerce businesses, brandsExclusive.

It is an online shopping club which partners directly with premium brands to offer exclusive sales to members with heavy discounts off recommended retail prices.

"APN has taken an 82% equity stake for an up-front investment of $36 million. An additional payment of up to $30 million is contingent on achieving earnings targets for 2013.

"The deal is an important one as we reposition APN for growth and will substantially ramp up our digital revenue and earnings trajectory.

"We believe there is tremendous value to be unlocked in the global shift towards eCommerce which will be a core part of the digital media landscape in the future.

"The acquisition of brandsExclusive reflects our strategy of connecting existing media assets with high-growth digital transaction businesses.

"brandsExclusive is one of the best eCommerce assets in Australasia and we are delighted to bring it into our growing digital portfolio.

"Like Grabone, brandsExclusive enables commercial transactions between advertisers and an online member-based audience.

"Importantly, we are forging a partnership with two of Australia's best eCommerce entrepreneurs, Daniel Jarosch and Rolf Weber, who will retain a substantial equity holding in the business.

"brandsExclusive has more than 1.8 million members with an additional 70,000 new members joining each month.

"It has been recognised as one of the fastest-growing businesses in Australia, ranking number five in the recent BRW Fast Starters list for 2012 and receiving the Deloitte Rising Star award in late 2011.

"brandsExclusive is on track to deliver $70 million of revenue this calendar year," Mr Chenoweth said.

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