Sweden’s Bonnier News has taken a minority stake in the Business Post Group (BPG) for an undisclosed sum. Bonnier News will have two seats on the board, but CEO Enda O’Coineen (above) will remain chief shareholder in the company and day-to-day management will not change. BPG’s interests include the Business Post, Red C and events company IQuest.
O’Coineen, chairman of Kilcullen Kapital, bought what was then the Sunday Business Post newspaper in September 2018. Since then, the company has expanded into a ‘house of brands’, with turnover reportedly growing from €7.5 million to circa €22m. O’Coineen said BPG will seek to leverage the expertise of the Bonnier group to accelerate its digital offering.
Bonnier News is a family-owned business operating in ten countries. Its total revenue is €762m. It accounts for about 47 per cent of the Swedish newspaper market and publishes business title Dagens Industri, news title Dagens Nyheter, and a tabloid called Expressen. It produces magazines on health, food and travel, trade titles and local newspapers.
