Historic publisher sold in £1m deal
Debrett’s, the 235-year-old authority on the UK aristocracy and matters of etiquette, was today sold in a deal worth £1m (€1.4m).
Publisher SPG Media, which acquired the operation from Cornhill Publications in 1987, has sold Debrett’s to privately-owned Devonshire Media.
SPG said the acquisition presented the new owners with an “outstanding opportunity” to build a leading UK publishing business.
The specialist in biographical reference books began in 1769 when John Debrett published the New Peerage, the Present State of the Nobility in England, Scotland and Ireland. Debrett’s still publishes the work today, under the name Peerage & Baronetage, the genealogical reference guide to the British aristocracy.
Debrett’s Distinguished People of Today was launched in 1988, while Debrett’s guide books cover a wide range of social occasions and issues, including wedding planning, entertaining and letter-writing.
SPG, which publishes and distributes more than 50 business magazines across 14 industries, said today’s deal involved an upfront payment of £670,000 (€970,000) with the remainder being paid over the next two years.
Chairman Steve Nicholson said: “Debrett’s presents its new owners with an outstanding opportunity to build a leading UK publishing business and we wish the new owners and all staff every success in the future.”
