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MILAN — Condé Nast Italy has acquired an 80 percent stake in iconic cooking title La Cucina Italiana from owner Lapo Niccolini.
“La Cucina Italiana is an institution in Italy and a unique brand with huge potential for global development in media and beyond,” said Jonathan Newhouse, chairman and chief executive officer of Condé Nast International.
The magazine is published in Italy and the U.S. and licensed in Germany, the Czech Republic, Turkey and Holland. The company also runs a Milan-based cooking school.
“Condé Nast shares with my organization a true commitment to editorial quality and that is why it is [the] best home for my magazine. La Cucina Italiana has the opportunity to achieve new heights of success,” said Niccolini, who will serve as president of the unit.
Condé Nast will operate La Cucina Italiana as part of the Milan-based media organization that includes the Italian editions of Vogue, Vanity Fair, Glamour and AD.
Giampaolo Grandi, president of Condé Nast Italy, characterized the acquisition as a vote of confidence in the Italian market. “Italy remains a vital media market and a place where strong brands can flourish,” he said.
Condé Nast International is a division of Advance Publications and operates in 25 markets around the world.