NEW YORK, Jan. 27, 2021 /PRNewswire/ -- North Equity LLC, a venture equity firm, today announced that it has acquired the leading home and design digital media brand Domino from Multiply Media, LLC.
Founded in 2005, Domino is the ultimate resource for discovering your personal style and translating that into your home. Editors provide readers with inspirational and service-driven home tours, DIY tutorials, shopping guides, and more. The brand celebrates personal style and self-expression through the lens of emerging and expert creatives, enabling its audience to discover their own design aesthetic. Domino will join Acton Media Inc., a portfolio company of North Equity that comprises its home and lifestyle-focused brands, including SAVEUR and BobVila.com.
"Domino's brand and content drive trends in the home and design space. The dynamic content and impressive team piqued North's interest, leading us to build a relationship with the executive and creative team. We're ecstatic to finally welcome them to our family," said Andrew Perlman, Managing Partner of North Equity. "There is a tremendous opportunity for us to invest in and continue to grow the brand by employing our proprietary North playbook and technology. Domino is a phenomenal addition to our portfolio, and better positions North both in interior design as well as the broader home and DIY landscape."
Domino's General Manager, Tracy Cho, will become General Manager of Domino and SAVEUR, where she will oversee all business and editorial operations. Nearly all of Domino's staff will be staying with the brand or working across the Acton portfolio. Chief Creative Officer, Kate Berry will continue to lead all of Domino's editorial and creative initiatives.
"Domino is a powerhouse brand and we're so excited to welcome them into Acton Media. Our other brands have seen tremendous growth while at North, including over 100 percent year-over-year organic revenue growth since BobVila.com was acquired. We're estimating a similar trajectory for SAVEUR and see the same potential in Domino," said John Coyne, General Manager of Acton Media Inc. "With the addition of Tracy and her team, our portfolio is poised for exponential growth thanks to its tremendous foothold in the home and DIY landscape."
"This is a truly exciting time for Domino and our team. We've found a partner that values our brand mission and our unique position in the home industry. Together we'll continue to invest in our talent and bring the highest quality storytelling discipline across the portfolio," said Cho. "We're ready to enhance our audience's digital journey and bring new experiences to our loyal community of design enthusiasts."
Domino launched as a print magazine at Condé Nast from 2005-2009, where it earned two National Magazine Award nominations from the American Society of Magazine Editors (ASME), among other accolades. It was relaunched in 2013 as the omnichannel media and e-commerce company Domino Media Group before it was acquired by Multiply in 2018. The redesigned print magazine received the Gold Medal, Best of Genre - Women's Interest from the Society of Publication Design. It has also published two books: Domino: the Book of Decorating and the New York Times bestseller, Domino: Your Guide to a Stylish Home. North Equity will continue to build on the Domino brand while expanding its digital content and audience.
Baker & Mackenzie LLP served as legal advisor on this transaction for North.
ABOUT NORTH EQUITY
North Equity LLC is a venture equity firm that invests in, acquires, builds, and scales transformative digital media brands using a proprietary combination of operational, data, and technology expertise. The current portfolio focuses on the automotive, home, outdoors, specialty, and military verticals, which are divided into three operating businesses: Acton, Brookline, and Camden. North's brands include The Drive, Popular Science, Popular Photography, Field & Stream, BobVila.com, SAVEUR, Outdoor Life, The War Zone, and Task & Purpose, among others, representing a combined audience of more than 35 million monthly unique visitors. Since joining North, each brand has been strategically building market-leading positions and optimizing profits, while producing high-quality content and transforming their category in the digital landscape. North's investment team has extensive experience as private investors and operators at the intersection of technology, data, and media. North, based in Miami with offices in San Francisco and New York, will continue making strategic acquisitions across the digital media and technology landscape.
SOURCE North Equity