08.05.2015, Germany, UFA Sports
Lagardère Unlimited announced its acquisition of UFA Sports, the European based sports marketing subsidiary, from RTL Group.
RTL Group decided to sell UFA Sports as sports marketing is not key to RTL Group’s future growth strategy across broadcast, content, digital. The deal is still subject to regulatory approval from the German competition authorities.
As a subsidiary of Lagardère Unlimited, UFA Sports will continue to operate its football marketing activities in Germany as a separate and independent entity within the Lagardère Unlimited network of businesses. The current management of UFA Sports agreed to stay on board in full-time roles, with current Managing Director, Philip Cordes, remaining on board as a consultant.
Andrew Georgiou, Chief Operating Officer of Lagardère Unlimited, says: “We are delighted to welcome UFA Sports to the Lagardère Unlimited family. Since its foundation, UFA Sports has grown significantly and has developed an impressive portfolio of assets that will complement the existing businesses of Lagardère Unlimited very well. We are very happy with our agreement with RTL Group and that the management of UFA Sports has chosen to work with Lagardère Unlimited and we look forward to continuing to grow our businesses.”