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Emap Buys Planet Retail for £23 Million
UK publisher and media group Emap has bought online retail research and intelligence firm Planet Retail in a £23 million cash deal.
Planet Retail has 47 people in its London, Frankfurt and Tokyo offices. The firm's analysis covers 6,000 retail and foodservice operations across 140 markets around the world, and more than 98% of the world's grocery market, with economic data on 200 countries. It includes market profiles, country analysis, retailer rankings and thought leadership reports on global trends. Tessa Cook, Publishing Director of Emap publication Retail Week, will become its new MD.
Emap said the acquisition fits well with its magazine and events brands as well as its strong position in the retail and information sectors. Derek Carter, Emap Chief Executive added that his firm had long admired Planet Retail's products.
Earlier this month, Emap announced it was 'reviewing its structure and assets' and considering selling off some of its businesses. It has since emerged that Guardian Media Group is in talks with private equity firm Apax Partners about launching a joint £2 billion bid for the company.
Web sites are at www.emap.com and www.planetretail.net.
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