CHICAGO (February 7, 2012) — International law firm McDermott Will & Emery LLP today announced that it successfully represented Meredith Corporation, the leading media and marketing company serving American women through such well-known magazines as Better Homes and Gardens, Family Circle, Ladies' Home Journal, MORE, Parents, Fitness, and American Baby, with the $175 million acquisition of Allrecipes.com from The Reader’s Digest Association. Allrecipes.com is the world’s number one digital food site and has a database of over 500,000 recipes. The transaction is expected to close later this quarter.
Allrecipes.com currently has a database of over 500,000 recipes. Its U.S. audience is 70 percent female with a mean household income of $73,000, and it reaches nine out of 10 primary grocery decision makers. Over 11 million consumers have downloaded Allrecipes.com mobile apps, and they are the number one download on Android, iPhone, and iPad recipe applications. It is also the top food recipe channel on YouTube.
“We are very pleased to have helped Meredith Corporation successfully complete this significant transaction,“ said Thomas J. Murphy, partner and head of McDermott Will & Emery’s Securities & Capital Markets Affinity Group.
In addition to Mr. Murphy, the McDermott deal team also included Eric Orsic, Christopher Lin, Mary Duby, Dan Zucker, Jennifer Mikulina, Jamie Weyeneth, Thomas Hefty, Joel Grosberg, Jon Dubrow, Carla Hine, Sabrina Dunlap and Rohan Massey.
McDermott’s Corporate Advisory Practice Group represents a wide spectrum of business interests around the world, from Global 50 companies to venture backed start-ups, as well as the financial institutions that support them. The team is compromised of highly skilled and collaborative business lawyers focused on solving complex business problems and acting as strategic partners in the execution of clients' strategic M&A initiatives and capital raising plans.
About McDermott Will & Emery
McDermott Will & Emery is a premier international law firm with a diversified business practice. Numbering more than 1,000 lawyers, we have offices in Boston, Brussels, Chicago, Düsseldorf, Houston, London, Los Angeles, Miami, Milan, Munich, New York, Orange County, Paris, Rome, Silicon Valley and Washington, D.C. Extending our reach to Asia, we have a strategic alliance with MWE China Law Offices in Shanghai.