Highbury-SPL has extended its motoring portfolio by acquiring Carbuyer magazine from Wordzone Automotive.
Six staff, including five editorial, have renegotiated terms and agreed to move from their offices just outside Farnham to Orpington in Kent where Highbury-SPL produces titles such as Fast Car, Fast Bikes and Classics.
The purchase is expected to give Highbury-SPL the third-largest car and motorbike portfolio on the UK newsstands.
Managing director Clive Foskett said there would be little overlap between Carbuyer and the company’s other titles.
There are believed to be plans to turn the bimonthly magazine, which launched just over a year ago, into a monthly and increase sales from 1520,000 to 100,000.
“This opportunity was just perfect timing for us and it fitted perfectly with what we wanted to do,” Foskett said. “We were already building a strong car and motorbike portfolio and this takes us into a brand new sector of the car market. They have done a very good job in getting it off the ground, it’s a very solid, strong title.”
He added: “We are definitely going to be growing the magazine and the editorial content.”.
He declined to comment on further acquisitions but said there were launch ideas in progress for next year.
Staff are working on potential new titles for the car, motor bike and home interest markets. “Gardening is also very strong for us now,” he added.
By Ruth Addicott
Email pged@pressgazette.co.uk to point out mistakes, provide story tips or send in a letter for publication on our "Letters Page" blog
