Better Collective has announced a definitive agreement to acquire Playmaker Capital, a Toronto-based digital sports media group.
This acquisition follows Better Collective's recent accomplishment in July 2023 when it completed the acquisition of Playmaker HQ, a sports and entertainment media platform with over 20 million followers across its platforms. The acquisition granted Better Collective access to millions of sports fans in the US.
Moreover, Better Collective appointed Pernille Holbøll as Senior Director of Group AI Editorial Content & Editorial Innovation recently.
Playmaker Capital has a portfolio of sports media brands, including Futbol Sites, Yardbarker and The Nation Network (TNN), with a collective monthly following of over 200 million visits across the Americas.
In Better Collective’s Q2 2023 report, the company disclosed a rise in revenue, hitting €78.1m ($83.4), representing a 39% increase compared to the previous year. Additionally, its Q2 2023 EBITDA saw growth, totalling €27.5m, reflecting a 115% annual increase.
Jesper Søgaard, Co-founder & CEO of Better Collective, stated: "Acquiring Playmaker Capital is in many ways transformational for Better Collective and will be an important milestone in our journey towards becoming a leading digital sports media group."
The transaction is expected to close before the end of Q1 2024, pending regulatory and shareholder approvals. Moelis & Company acted as the exclusive financial advisor for Better Collective, with legal counsel from Stikeman Elliott, Bech-Bruun Law Firm P/S and Greenberg Traurig. PriceWaterhouseCoopers provided accounting and tax advisory services.
