RDA To Sell Allrecipes.com
Reader’s Digest Association said it’s exploring a sale of a second key food property, AllRecipes.com, seens as a sell candidate for a least a year. RDA bought the user-generated recipe site in 2006, and since then, it’s more than doubled its traffic to become one of the biggest food sites on the Web. Allrecipes would be expected to earn a high price, and selling it could help RDA fix financial weaknesses elsewhere at the company.
RDA CEO Robert Guth said the Allrecipes announcement fits with his strategy to focus on RDA’s core brands like Reader’s Digest, Taste of Home, and The Family Handyman. Morgan Stanley and Evercore Partners are advising it in pursuing the possible sale.