Zagat Hires Goldman Sachs to Explore Sale of Guidebook Business

Authored by Mark Hefflinger on January 14, 2008 - 8:41am.

New York - Zagat Survey, the publisher of print and online user-generated, survey-based dining, travel and leisure guides, announced on Monday that it has hired Goldman Sachs to explore partnerships or a potential sale of the company.

"Coming off 2007 as our best year ever, we see many opportunities ahead driven by the strength of the Zagat brand and the expansion of our user-generated content and distribution vehicles," company founders and co-chairmen Tim and Nina Zagat said in a statement.

"From this position and with the changes in the broader media and technology environments, we have determined that it is the right time to take a look at our Company's options for even more rapid long-term growth."

The company now offers its guides in multiple languages in 104 countries, and has expanded distribution to both online and mobile platforms.

The New York Times reports that people briefed on the company's finances say it could be valued at more than $200 million.

"What I think is in the minds of Tim and Nina is that they have taken it to a certain level," said Peter A. Georgescu, a longtime friend of the Zagats and the chairman emeritus of Young & Rubicam, told The Times. "It's a fabulous brand, but they need the kind of resources that organic growth cannot sustain."

 

Related Links:
http://snipurl.com/1xfc7

http://www.nytimes.com/2008/01/14/business/14deal.html

http://www.zagat.com

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