HM Capital Partners has completed its sale of Canadian local search and directories publisher Canpages to Yellow Media, a subsidiary of Yellow Pages Income Fund. The C$255 million deal included C$75 million in cash and C$150 million in mandatory exchangeable promissory notes of Yellow Media.
Yellow Pages Income Fund (TSX:YLO.UN) (“YPG”) announced today that it has finalized the acquisition of Canadian Phone Directories Holdings Inc. (“Canpages”) from an investor group led by private equity firm HM Capital Partners for a purchase price consideration of approximately CDN $225 million.
“The acquisition of Canpages positions us to better compete in the digital world and will enable us to expand our sales force, online capabilities and advertiser offerings,” said Marc P. Tellier, Chief Executive Officer, Yellow Pages Group. “Both companies will continue to operate separately, and we intend to meaningfully invest in both sales forces to continue to position the business for future growth.”
About Yellow Media Inc.
Yellow Media Inc., a subsidiary of Yellow Pages Income Fund, owns Yellow Pages Group and Trader Corporation. Yellow Pages Group (YPG) is Canada’s leading performance media and marketing solutions company. The Company brings consumers and businesses together locally through its network of print, digital and mobile properties. YPG enables consumers to make smarter decisions, helping people find what they need wherever and whenever. YPG partners with businesses to build successful marketing and lead generation programs, helping them grow their business. Trader Corporation (Trader) is a leader in print and digital vertical media and offers a broad set of services such as inventory management, web solutions, optimization of media spend, and lead generation campaigns. Trader caters to the automotive, real estate and generalist verticals. Yellow Media Inc. owns and operates some of Canada’s leading properties and publications including Yellow Pages™ directories, YellowPages.ca™, Canada411.ca™, Auto Trader™(.ca), Home Trader™(.ca), and LesPAC.com. For more information, www.ypg.com.
About Canpages Inc.
Canpages is a local search and directories publisher in Canada. Its website, Canpages.ca features a national residential and business database and more than 3.5 million unique visitors come to visit it every month with their local search requests. With 84 publications Canpages reaches approximately 8 million households and businesses across Canada. Headquartered in Vancouver, Canpages employs approximately 700 people and has offices in Alberta, British Columbia, Ontario and Quebec. For more information visit: www.Canpages.ca.