Funds managed by Barclays Private Equity have agreed to buy Bounty Group, the UK operations of online family-focused media group Kaboose, for around $97 million.
Bounty, which counts itself as the biggest parenting club in Britain, was acquired by Canada-based Kaboose in late 2007. It produces websites such as www.babyzone.com and www.amazingmoms.com which give parenting advice, sell children’s stuff and provide chat forums for mothers and fathers.
“The key strengths of the business and the support that Bounty provides to new mothers remains as relevant in the current economic environment as it has done over the last 50 years,” Rob Myers, director of BPE, said in a statement.
Kaboose said it had had “a difficult year” and that it intends to us the proceeds from the sale to make distributions to shareholders.
It has also agreed to sell around $18 million worth of its assets to Disney Online, part of the Disney Interactive Media Group, in a separate transaction.
The deal is subject to approval by Kaboose shareholders.
It has been a busy week for BPE’s parent, UK bank Barclays, which is currently locked in exclusive negotiations with buyout house CVC Capital Partners over the sale of its iShares division.