Alma Media Divests Majority Stake in Kotikokki Net Oy

Alma Media Divests Majority Stake in Kotikokki Net Oy

(IN BRIEF) Alma Media has sold its 65% stake in Kotikokki Net Oy to Rohea Oy, which already owned a minority share of the company. The sale will be finalized on October 1, 2024. Kotikokki.net is a popular Finnish recipe-sharing platform with over 200,000 weekly users. Alma Media stated that the sale aligns with its strategy to focus on national, subscription-based digital news media. The financial details of the transaction have not been disclosed, and the sale is not expected to have a significant impact on Alma Media’s earnings. Rohea CEO Eero Holmila confirmed that Kotikokki.net will continue to operate as Finland’s largest recipe platform, offering users a place to share and discover recipes.

(PRESS RELEASE) HELSINKI, 30-Sep-2024 — /EuropaWire/ — Alma Media has announced the sale of its 65% stake in Kotikokki Net Oy to Rohea Oy, the company’s minority shareholder. The transfer of ownership will be finalized on 1 October 2024.

Kotikokki.net, a digital platform dedicated to cooking and food recipes, generated EUR 0.2 million in revenue in 2023 and attracts over 200,000 weekly users. The purchase price of the transaction remains undisclosed. Alma Media noted that this sale will not significantly impact the company’s financial performance.

Juha-Petri Loimovuori, Director of Alma News Media, commented: “As part of our strategy to focus on national, subscription-based digital news media, we believe Kotikokki will thrive under its new ownership.”

Eero Holmila, CEO of Rohea, assured users that Kotikokki.net will continue to operate as usual, serving as Finland’s largest recipe platform. “Kotikokki will keep inspiring everyday meals and celebrations for our community,” Holmila said.

Media Contact:

Juha-Petri Loimovuori
Director, Alma News Media
tel. +358 500511036
juha-petri.loimovuori(@)almamedia.fi

SOURCE: Alma Media