What Allrecipes.com Brings Meredith for $175 Million
No. 1 Food Site Doubles Meredith's Overall Digital Reach
By: Nat Ives Published: January 24, 2012 ADAGE
Meredith Corp. has agreed to buy Allrecipes.com from Reader's Digest Association for $175 million, the companies said Tuesday.
Meredith, the publisher of magazines such as Better Homes and Gardens and Ladies' Home Journal, has been bulking up in the food space since last June, when it acquired Eating Well magazine and introduced a food site at Recipe.com. But Eating Well, a bimonthly magazine, and Every Day with Rachael Ray, a subsequent acquisition from Reader's Digest Association, came relatively inexpensively.
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