Sanoma, a Finnish group in education and media, has acquired the historic publisher Vicens Vives. The transaction had been in the works for months due to the delicate situation faced by the family business, which for decades has been a benchmark in the Catalan educational world. According to a statement to the Helsinki Stock Exchange, the operation is valued at around 40 million euros and takes into account the net debt value, which would be close to 30 million euros, market sources indicate.
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These sources comment that Vicens Vives needed the entry of an industrial partner to give the business oxygen, which had suffered from the pandemic crisis and had made several investments to adapt to the new digital era. Due to this crisis, the company had to apply in 2023 a Workforce Adjustment Plan (ERE) to lay off more than 10% of the staff, then consisting of a total of 324 workers.
Sanoma will keep the brand and take on the 250 employees of Vicens Vives, including the management team
With this transaction, the Vicens family loses ownership of their business, which was founded in the 1960s and now passes into foreign hands. According to market sources, the 250 employees of the Catalan publisher will join Sanoma Learning, including the management team, which will continue to lead the publisher. For now, the Finnish group intends to preserve the brand and the educational proposal of Vicens Vives.
Currently, the business of the Catalan publisher is based on content related to secondary education, specifically in the areas of Geography and History, as well as Language and Literature. Last year, the company invoiced 29 million euros, a figure that reflects a drop compared to the 32 million of the 2024 fiscal year (as stated in the balance published in the Mercantile Registry).
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As for Sanoma, the group is a giant in the sector. Last year it invoiced around 1.3 billion euros and employed 5,000 people. “I am pleased to announce the acquisition of Vicens Vives, a highly respected educational content provider in Spain,” says Rob Kolkman, chairman and CEO of Sanoma. The Finnish group already has a presence in Spain. In 2021, it acquired the publisher Santillana from the Prisa group in a deal valued at 465 million euros. Now, “the educational offer of Vicens Vives complements Santillana’s activity,” it states in the statement.
The sale has been advised by Marroquín Abogados and KPMG, on behalf of Vicens Vives, and by Uría Menéndez and Alantra, on behalf of Sanoma.
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