Future : Acquires Centaur Media’s Home Interest Division

Acquisition of Centaur Media's Home Interest division for an enterprise value of £32m

Future, the global platform for specialist media, today announces the proposed acquisition of the Home Interest division of Centaur Media plc, a portfolio of market leading and differentiated brands in the home building segment, for cash, at an enterprise value of £32.0m.

Acquisition highlights & rationale

• Further diversifies Future's revenue streams, adding significant scale in events - a business with good revenue visibility and attractive working capital dynamics
• Adds multi-media specialist content activities with market leadership, in line with Future's strategy
• Brings three more key brands to Future's portfolio: Homebuilding & Renovating, Period Living and Real Homes
  • Seven exhibitions, print and digital assets

• Builds on Future's platform business by adding a new division without incurring significant overheads
• New, significant growth opportunities as part of Future's platform business, particularly within eCommerce
• Addition of further market leading content that meets the needs of audiences and loyal communities - a central component of Future's operating model

Zillah Byng-Thorne, CEO of Future, commented:

'Centaur's Home Interest division will significantly add to our scale and momentum, while further diversifying our revenue streams, as we continue to build a global platform business for specialist media with data at its heart.

'The Home Interest division brings a strong management team and market leading access to an attractive new vertical with clear growth potential. Home Interest's brands, market position, industry leading events and quality content are a strong fit and will further reinforce our position as a trusted destination for consumers and for our customers.

'We have a track record in profitably integrating acquisitions and we expect the acquisition of Centaur's Home Interest division to be materially earnings enhancing in the first full year of ownership.'

Nick Noble, Deputy Managing Director, Home Interest commented:

'We are delighted to be joining Future's portfolio of market leading brands.

'Future's innovative platform business provides significant growth opportunities for us, particularly within eCommerce.

'We look forward to working with Future's dynamic leadership team and to contributing to the continued growth of the Group.'

For further information, please refer to today'sRNS announcement.