Emap already publishes 40 titles in France across TV listings, women's, automotive and special interest and men's markets. The acquisition is subject to approval by French competition authorities and is part of new chief executive Tom Moloney's plans for expansion.
"This acquisition makes us the second-largest consumer magazine publisher in France in terms of total revenues, strengthening the overall portfolio, as well as providing exciting new areas for growth," Moloney said.
The purchase gives Emap 100% of Excelsior Publications and 70% of its joint venture advertising sales house Excelsior Publicite Interdeco.
Excelsior also publishes a range of science magazines under the Science & Vie brand; a monthly women's health title called Vital; and a young women's magazine called 20 Ans.
Excelsior will be headed up by Emap France president director general Arnaud de Puyfontaine once the deal goes through. He takes over from the current president Paul Dupuy, whose family founded the company at the turn of the 20th Century.
The company had pro-forma 2002 revenues of £43m, and pro-forma operating profits before interest and tax were £4.3m, according to unaudited management accounts. The accounts gave the company net assets of £37m.
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