Advance Publications Inc. announced their purchase of triathlon business, the IRONMAN Group, from Wanda Sports Group Co. for $730M in cash.
“We remain confident in our future; our focus and objectives are unchanged; and we are ready to face the opportunities and challenges ahead. Together with Advance and Orkila, we will navigate through the turbulent and uncertain period in front of us and continue to deliver the exceptional experiences for which we’re known”
Andres Messick, CEO of the IRONMAN Group
Advance Publications, the owner of numerous prominent media companies, has been looking for ways to diversify their holdings away from advertising. As Ironman is forced to cancel events, Advance’s acquisition could be an indication of an attempt to take advantage of the uncertainty of the epidemic.