INL Purchases Cuisine Magazine

PURCHASE OF CUISINE MAGAZINE

Independent Newspapers Limited (INL) announced today that the company has reached an agreement to buy Cuisine Magazine from its founder Julie Dalzell and her family interests, for an undisclosed sum. The magazine was established 17 years ago and is highly regarded for food and wine writing. It has a circulation of 88,000 in New Zealand and Australia.

INL Chairman Ken Cowley said, “We are particularly pleased to have negotiated this purchase because Cuisine fits elegantly and naturally into our very successful division INL Magazines. Cuisine has seen spectacular circulation and advertising growth over the last five years, as have a number of our titles. With our own NZ House & Garden, onHoliday, NZ Gardener and Style, and by now adding Cuisine to our lifestyle portfolio, we will hold a range of high quality titles that we expect to be even more attractive to advertisers.”

“We are delighted too that Julie Dalzell will stay with us as consulting publisher.”

INL confirmed that Cuisine’s associated businesses, the Cuisine Wine Annual, wine labeling business and Cuisine website were part of the purchase, and that all Cuisine staff would continue with the magazine.

Assuming the parties finalise due diligence and complete agreement terms the purchase would be effective early in the New Year.

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