Atlantic Management advises on Yankee Publishing ESOP transaction, transitioning to 100% employee ownership.
PORTSMOUTH, NH, UNITED STATES, July 8, 2022 /EINPresswire.com/ — Based in Dublin, New Hampshire, Yankee Publishing, Inc. (YPI or the Company) is a long-standing, family-owned business that successfully transitioned to 100% employee ownership through the sale of stock to the Company’s Employee Stock Ownership Plan (ESOP). The Company had previously sold a minority interest to the ESOP and, on June 30, 2022, the ESOP purchased the remaining shares outstanding. Atlantic Management Company, Inc. (Atlantic) served as financial advisor to the Company and its shareholders.
As the publisher of “Yankee”, the “Old Farmer’s Almanac,” “New Hampshire Magazine” and “Family Tree Magazine,” YPI has roots in traditional print publishing. Over the last 25 years, it has expanded substantially into the digital arena and into preparing custom content for its clients.
“Family shareholders felt strongly that YPI needed to remain independent and not be sold to another business that might not care for our brands,” said Jamie Trowbridge, YPI’s CEO. “This is a time of transition in the media industries, and we think the Company’s employee-owners will be the best stewards of the business.”
Founded in 1935, YPI grew slowly and steadily. Central to is success – then and now – was the acquisition of the Old Farmer’s Almanac, which provided the Company with a national footprint.
In the 1990’s, when the digital world collided with the publishing world, YPI’s Board of Directors resolved to remain independent and embraced the Internet as a publishing platform. Trowbridge took over as CEO in 1999 and led the Company through many changes to position it for success in the 21st century.
In 2012, YPI acquired McLean Communications as a way of growing its media footprint within New England and diversifying the media businesses it owns.
In 2019, Yankee acquired “Family Tree,” the premier magazine about genealogy in the U.S.
Despite all the changes in the media landscape and in its businesses, YPI’s mission is to remain a successful independent media company committed to creating outstanding products that serve its customers and enhance its communities. Since 1935, YPI has held tight to the vision of its founder, Robb Sagendorph, who was so inspired by the spirit of New England that he started a magazine about it. Independence, integrity, ingenuity, perseverance, self-sufficiency, community: These are the values that have made both New England and YPI successful. We continue to adhere to those values today.