Newsquest has confirmed this afternoon that it has completed the acquisition of Archant for an undisclosed sum, although reports suggest it could be around £10m.
The publisher bought the company from Rcapital, the private investment operation, which has owned the Archant business since September 2020.
It’s the second time in less than 2 years that the company behind Cheshire Life, Lancashire Life and Yorkshire Life has swapped hands. Newsquest was originally linked to its sale the first time around.
“We’re really looking forward to working with the Archant team who have done a phenomenal job rebuilding the business after it went into administration 18 months ago,” said Henry Faure Walker, Newsquest’s CEO.
“The Archant strategy focused on building out digital marketing solutions and digital subscriptions is closely aligned with our own; and the additional scale that our combination brings will greatly assist Archant’s local news and Life brands in building a stronger future.”
Archant publishes around 60 newspapers and 75 magazine titles, employing 760 staff.
“By bringing the best of Archant and Newsquest together we have the opportunity to lead the way in building an exciting future for regional media, a future that speaks to growth, innovation and sustainability, built on quality local journalism,” added Lorna Willis, Archant’s CEO.
Ash Reek, Archant’s Chairman stated:
“Archant’s management team, led by Lorna Willis (CEO) and Nick Steven-Jones (CFO/COO), should be very proud of what they achieved over the past 18 months.
“With the support of Rcapital, they have formed a unique partnership with the courage and confidence to successfully transform this business. The working relationship has been fantastic from the outset and the progress we have made in a relatively short period is extremely impressive. I wish them every success for the future as they move into their next phase of Archant’s long and celebrated history.”
