EQUITA assisted Sudoku

EQUITA K Finance - Mid-market M&A advisory
Sudoku 1920x1080
Sudoku 1920x1080

Sudoku S.r.l., Italian leader in sudokus and logical puzzles, was acquired by Keesing Media Group B.V.

Equita K Finance (member of Clairfield International and part of Equita Group), together with Clairfield Netherlands, acted as financial advisor to Luca and Paola Spreafico, shareholders of Sudoku S.r.l., while Squire Patton Boggs acted as legal advisor. Keesing Media Group has been advised by PWC on financial and tax matters and by Baker McKenzie on legal aspects of the transaction.

The takeover of Sudoku S.r.l. further strengthens Kessing’s position in the important Italian market, given that the company is market leader in the sudoku and logical puzzles segment. In total, the acquisition involves 36 titles, including the weekly Settimana Sudoku, which was created in 2005 and sells more than four million copies a year. The takeover brings to the Group the brand “Corrado Tedeschi Editore in Firenze” dal 1945, popular among the public for crosswords and puzzles.

Luca Sprea, founder of Sudoku S.r.l. and known for being the CEO and founder of the publishing company Sprea S.p.A. will remain involved in the business and will be in charge of Italian operations as CEO. He declared: “Undertaking this journey was not easy, but we have entrusted Sudoku S.r.l. to much more capable and bigger hands than ours. I will continue to be involved as Chief Executive Officer of the company. Being part of an international group such as Keesing represents a tremendous growth potential for the company, which I will continue to manage as if it were still mine”.

The transaction in a nutshell

2022 11 Tombstone Sudoku Keesing

The takeover of Sudoku S.r.l. further strengthens Kessing’s position in the important Italian market, given that the company is market leader in the sudoku and logical puzzles segment.

Client:
Sudoku
Date:
November 2022
Mandate:
Sale of Sudoku to Keesing Media Group
Role:
Financial Advisor
Value:
Undisclosed
Typology:
M&A advisory
Advisor:
EQUITA Mid Cap Advisory

The company

Sudoku S.r.l., founded by Luca Sprea and headquartered near Milano, is the Italian market leader in sudokus and puzzle games.

Keesing Media Group B.V., founded in 1911 in the Netherlands and acquired in 2021 by the UK private equity BC Partners, is the largest puzzle and braintainment company.