Moore Stephens sells Reader's Digest to Jon Moulton business

by Kevin Reed

More from this author

12 Apr 2010

  • Comments

Reader's Digest has been bought out of administration in the UK by a private equity vehicle owned by Jon Moulton.

Better Capital's BECAP fund backed a management buyout of the business in a deal worth £13m.

Administrators from Moore Stephens had been appointed in February to the UK arm of the business after plans to deal with its pension liability fell through.

The £125m pension liability will remain in the "old" company, with discussions on how to deal with it to continue between the Pensions Regulator, the Pension Protection Fund and the administrators.

The UK arm will have no bank debt through the deal, and publish the magazine through a licensing deal with its US counterpart.

"It’s rare to have an opportunity to back a dynamic management team to run a business with the heritage and brand strength of Reader’s Digest," said Mark Aldridge, CEO of Better Capital.

Further reading:

Readers Digest US parent could be held liable for UK pensions deficit

Visitor comments

blog comments powered by Disqus

Add your comment

We won't publish your address

By submitting a comment you agree to abide by our Terms & Conditions

Your comment will be moderated before publication

  • Send


Financial Planner

The Ministry of Defence Surgeon General’s (SG) Finance Department, Lichfield, Staffordshire, Permanent, Full Time, £ £30,008




Get the latest financial news sent directly to your inbox

  • Best Practice
  • Business
  • Daily Newsletter
  • Essentials


Search for jobs
Click to search our database of all the latest accountancy roles

Create a profile
Click to set up your profile and let the best recruiters find you

Jobs by email
Sign up to receive regular updates with the latest roles suitable for you



Why budgeting fails: One management system is not enough

If budgeting is to have any value at all, it needs a radical overhaul. In today's dynamic marketplace, budgeting can no longer serve as a company's only management system; it must integrate with and support dedicated strategy management systems, process improvement systems, and the like. In this paper, Professor Peter Horvath and Dr Ralf Sauter present what's wrong with the current approach to budgeting and how to fix it.


iXBRL: Taking stock. Looking forward

In this white paper CCH provide checklists to help accountants and finance professionals both in practice and in business examine these issues and make plans. Also includes a case study of a large commercial organisation working through the first year of mandatory iXBRL filing.