Reader’s Digest Association Puts AllRecipes.com Up for Sale
The purging continues at Reader’s Digest Association (RDA). Last week the company sold Every Day with Rachael Ray to Meredith, and now, according to Adweeek, it’s selling AllRecipes.com. Morgan Stanley and Evercore Partners are working with RDA on a possible sale, and it will certainly garner a high number; the recipe site is an extremely popular destination for foodies.
Even though it maintains a strong online presence, selling AllRecipes.com is part of RDA’s dedication to its central brands. “The exploration of a sale of Allrecipes demonstrates our commitment to enhancing shareholder value and sharpening our strategic and financial focus on our core master brands such as Reader’s Digest, Taste of Home and Family Handyman,” said recently appointed CEO Robert Guth.
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