Montagu Private Equity, through its existing portfolio company Editions en Direct, has acquired Paris Turf and Week End, two leading French horse racing newspapers, from the French media group Socpresse for an undisclosed consideration.

In July 2004, Montagu purchased Editions en Direct, based in Aix-en-Provence. Editions en Direct is the publisher of six daily horse racing newspapers (Paris Courses, Tiercé Magazine, Bilto, Matin Courses, La Gazette des Courses, Le Favori), two monthly horse racing magazines (Turf Magazine and Stato), and Lotofoot, a weekly football betting magazine.

The new group combining Editions en Direct and Paris Turf / Week End, to be renamed Groupe Turf Editions, becomes the undisputed leading French horse racing publisher selling more than 260,000 newspapers every day. In the year to 31 December 2004 the combined group generated an aggregate turnover of € 92 million. 

Editions en Direct's success has been driven by its exclusive focus on horse racing newspapers, a sector which is growing in line with the French horse racing and betting industry, and from leading the consolidation of the sector. The acquisition of Paris Turf and Week End is a perfect fit with Editions en Direct. These two titles are positioned at the upper end of the market; allowing the new group to address all segments of the horse racing press. The two entities will be operationally separate to maintain the benefits of two distinct and complementary cultures.

Management of both groups will remain unchanged. Both teams welcomed the entrepreneurial partnership with Montagu which provides the backing of a strong and committed investor to support them during the next phase of expansion.