Affiliate group Better Collective has acquired Tipsbladet.dk, one of Denmark’s leading soccer media outlets.
The acquisition is valued at €6.5m, to be paid in three installments and financed with cash.
Better Collective expects that the post-synergy 2024 EBITDA multiple will be below 5x. The financial targets for 2023 remain unaffected by the acquisition.
As of 2 October, Tipsbladet.dk will officially become part of Better Collective, headquartered in Copenhagen, Denmark.
Better Collective co-founder and CEO Jesper Søgaard commented: “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.”
A transformation from print to digital
Founded in 1948, Tipsbladet is one of the oldest soccer magazines in the Nordics.
Over time, the media outlet has transitioned from a printed magazine to a digital platform and evolved into a leading source for soccer-related content, including news, articles, match previews, betting tips, videos, and analysis.
With a monthly audience of approximately 6.8 million visits and a substantial social media following, its digital edition Tipsbladet.dk has become a go-to destination for soccer enthusiasts.
Henrik Stegger Nielsen, former owner of Tipsbladet, stated: “Since 2007, when I acquired Tipsbladet, I have worked hard to make it a healthy and sustainable business.
“I have succeeded, and 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 their ambitions and competencies, develop it even further.”
Nielsen joins Better Collective together with all current employees at Tipsbladet.
Tipsbladet editor in chief Allan Olsen added: “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.”
Better Collective said the acquisition strengthens its position in Denmark, making it a more attractive partner for advertisers in the Danish market, while the experienced editorial team at Tipsbladet provides a solid foundation for expanding media products on various platforms.
Better Collective intends to use its tech and search engine optimisation (SEO) expertise to grow the audience, and said it is committed to investing in the development and growth of Tipsbladet.dk.
During the presentation of its Q2 results last month, the affiliate group hinted at the possibility of more M&A deals.
In the company’s earnings call, CFO Flemming Pedersen said: “Our total financial capacity exceeds €150m now, hence we have plenty of firepower for expanding our activities.”
Revenue for Q2 was €78.1m, marking a year-on-year increase of 39.4%.
Earlier in September, Better Collective already acquired Torcedores.com, a leading Brazilian online sports media platform.