This includes BBC Good Food’s digital and live events businesses.
The deal, which is Immediate’s first acquisition under the ownership of Hubert Burda Media, continues the company’s development as it looks to accelerate its growth through strategic M&A and product development.
Immediate Media CEO Tom Bureau commented: “We are excited to be acquiring BBC Good Food. It is absolutely on strategy for Immediate, given our focus on high value special interest communities, and it cements our market leadership in the food sector.
“We see a significant opportunity in growing the brand, which we know well from working closely with BBC Studios. I’m looking forward to welcoming the hugely talented BBC Good Food team to Immediate. We are committed to continuing to produce the world-class content they are known for, while developing the brand across all platforms,” he continued.
Marcus Arthur, BBC Studios’ President for the UK and Australia/New Zealand, added: “I’m really pleased that we’ve not only found a terrific new home for the BBC Good Food team and brand, but also the right home. Immediate Media is a long-trusted partner of BBC Studios and has already guided several of our former magazines to even greater heights. Tom and his team's plans to invest further in the Good Food brand will build on its continued strong performance and consumer popularity."
BBC Good Food will form a new food business portfolio for Immediate. BBC Good Food’s Publishing Director Chris Kerwin will take up the role of Food Managing Director, reporting to Group Managing Director Alison Forrestal.
Under the terms of the deal, the BBC Good Food brand name and the bbcgoodfood.com URL are licensed to Immediate by BBC Studios.