Debrett's, the 235-year-old publisher of "Peerage & Baronetage," the genealogical reference guide to the British aristocracy, was today sold in a deal worth £1m.
Publisher SPG Media, which acquired the operation in 1987, has sold Debrett's to privately owned Devonshire Media. SPG said the acquisition presented the new owners with an "outstanding opportunity" to build a leading UK publishing business.
The specialist in biographical reference books began in 1769 when John Debrett published The New Peerage, the Present State of the Nobility in England, Scotland and Ireland. Debrett's still publishes the work today, under the title Peerage & Baronetage, the genealogical reference guide to the British aristocracy.
Debrett's guidebooks cover a wide range of social occasions and issues, including wedding planning, entertaining and letter writing.
Debrett's Distinguished People of Today, first published in 1988, places more emphasis on individual achievement and less on genealogy, with entries on leading figures from the worlds of politics, business, art, and sport.
SPG, which publishes and distributes more than 50 business magazines across 14 industries, said today's deal involved an upfront payment of £670,000 with the remainder being paid over the next two years.
Chairman Steve Nicholson said: "Debrett's presents its new owners with an outstanding opportunity to build a leading UK publishing business and we wish the new owners and all staff every success in the future."