Time Inc. (U.K.) Ltd acquired U.K. Cycling Events (U.K.CE), the U.K.’s leading provider of premium cycling events.
Time Inc. U.K.’s cycling portfolio is already home to brands that include Cycle Sport, Cycling Active, Cycling Fitness, Mountain Bike Rider and the U.K.’s biggest-selling cycling magazine, Cycling Weekly, and their fast growing websites. The cycling industry is benefitting from strong growth in participant levels and this acquisition positions Time Inc. U.K. as the market leader in U.K. cycling sportive events. The development and expansion into experiential offerings is a natural step for the portfolio and supports Time Inc. U.K.’s overall audience development strategy in this important market.
Marcus Rich, CEO, Time Inc. U.K. says: “The acquisition of U.K.CE is an important piece in building out an events growth platform for our business as a whole and an attractive use of Time Inc. capital.”
Adds Paul Williams, managing director of Time Inc. U.K.’s specialist brands: “We know U.K.CE well, having worked closely with them over the last few years organising the Cycling Weekly sportive series. The U.K.CE business has grown to run over 50 sportives per year based on the leading rider experience in the market and a dedicated U.K.CE team at each event. The opportunities for growth are substantial and I look forward to working with the U.K.CE team to further develop the business.
“The acquisition will also provide the opportunity for Time Inc. U.K. to continue to build its digital reach among this audience and will place Time Inc. at the heart of the cycling market. This is transformational for the portfolio as we expand to become truly multiplatform, across print, digital and experiential.”
Martin Barden, founder and owner, U.K. Cycling Events, says: “I am very excited about working with Time Inc. U.K. on the sale of U.K. Cycling Events and about my continued involvement in the development of the company.
“Having partnered with Time Inc. U.K. over the last few years, I know it shares my passion and vision for U.K.CE. Together, we will further develop the portfolio of events, and ensure that the rider experience is the best available in the U.K.. Time Inc. U.K.’s experience and reach within cycling media will grow U.K.CE and strengthen it as the leading provider of cycling sportives in the U.K.”
Barden will continue to work with UKCE over the next two years.