HPP’s team led by partner Björn Nykvist advised Club Internacional del Libro group (“CIL Group”) in the acquisition of Oy Valitut Palat – Reader’s Digest Ab (“Valitut Palat”) from the US corporation Reader’s Digest Inc. The share purchase was completed on 30 April 2013.
CIL Group is the leading direct marketing company in Spain and Portugal with over 30 years of experience in the field of marketing and close to 1,000 employees. The acquisition of Valitut Palat was a part of a larger transaction by which CIL Group is aiming to expand its business into the French, Swedish, Finnish, Norwegian and Baltic markets and followed the acquisition completed last year with the same seller regarding subsidiaries located in Spain and Portugal.
Valitut Palat is a Finnish company with 42 employees, operating in Finland, Sweden, Norway and the Baltic countries. Its magazine has the largest subscription circulation in Finland.