Benchmark International has successfully facilitated the transaction between Aventura Magazine, asset of Stern Bloom Media, Inc. (“Stern Bloom”) and Palm Beach Media Group (“Palm Beach Media”).
Stern Bloom is an integrated print publishing company in Hallandale Beach, Florida. Its flagship lifestyle magazine, Aventura has established itself within South Florida as the source for entertaining editorial, exciting layouts, and high visibility for advertisers.
The Palm Beach Media Group is a wholly owned subsidiary of Hour Media. Hour Media Group headquartered in Troy, Michigan, is recognized as an influential publisher of city, regional, and custom publications. The marquee titles include: Hour Detroit, Minnesota Monthly, and Sacramento Magazine. The company has offices in Michigan, California, Florida, and Alabama. This acquisition fits well with Hour Media’s strategic growth plan.
David Bloom, Partner of Stern Bloom Media, stated, “We feel that Palm Beach Media Group is the perfect organization to honor our brand and elevate our legacy far into the future.” He also commented, “Choosing to partner with Benchmark International was a great decision.”
“Aventura magazine is a 20-year success story,” said John Balardo, President of Palm Beach Media Group and its parent, Hour Media. “This acquisition represents an ideal opportunity to extend our current roster of lifestyle, design, and custom publications into the greater Miami market.”
Regarding the deal, Transaction Director Leo VanderSchuur at Benchmark International commented, “It was a pleasure to represent Stern Bloom Media in this strategic transaction. On behalf of Benchmark International, we wish both parties continued success.”
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