DCF Rendered a Fairness Opinion to Meredith Corporation
Transaction highlights DCF buy-side fairness opinion capabilities
Deloitte Corporate Finance LLC (DCF) is pleased to announce its role as fairness opinion provider to Meredith Corporation (MDP), in its acquisition of Allrecipes.com, Inc. (Allrecipes), from The Reader's Digest Association, Inc. (RDA) for $175 million.
According to MDP’s press release, “The acquisition of Allrecipes.com, the market leader in the digital food space, will more than double the scale of the Meredith Women's Digital Network, and is expected to drive incremental revenue and profit growth,” said MDP Chairman and CEO Steve Lacy. Further, MDP indicated that Meredith plans to “invest in Allrecipes.com to optimize the site for today's growing online and mobile audiences.”
Allrecipes is an online social network for food and entertaining. Allrecipes ranked as the #1 food site, the #1 women’s site and among the top ten social networking sites by monthly unique visitors according to ComScore Data.