Media platform operator Future has acquired US-based women’s lifestyle publisher WhoWhatWear from Clique Brands for an undisclosed sum.
Future said on Tuesday that the acquisition of WhoWhatWear, which will be funded from existing debt facilities, would further strengthen its position in the women’s vertical lifestyle and give the group greater scale and reach in North America to further monetise its audience.
WhoWhatWear has 12.0m online users and 10.0m social media followers, with roughly 90% of its revenue derived from within the US.
The FTSE 250-listed firm stated its existing women’s lifestyle brands will benefit from WhoWhatWear’s “leading direct advertising sales capabilities”, whilst WhoWhatWear will benefit from Future’s proprietary technology stack and operating model.
Following the acquisition, leverage was expected to remain at under 2.0x EBITDA.
Chief executive Zillah Byng-Thorne said: “We are delighted to welcome the WhoWhatWear team to Future. We look forward to working with them to further bolster our women’s lifestyle scale and reach, notably in the US, and are excited about leveraging its scale with our proprietary technology and operating model. “
Reporting by Iain Gilbert at Sharecast.com