Zagat Seeks Potential Buyer to Facilitate Long-term Growth
Publisher Zagat Survey LLC, which provides user-generated, survey-based information on dining, travel and leisure, announced that it is seeking a potential buyer for the company. It has hired Goldman, Sachs & Co. to assist in “a process of exploring strategic opportunities to grow its business, including, among other things, potential partnerships or joint ventures and a potential sale of the company,” according to a statement issued by Zagat.
“Coming off 2007 as our best year ever, we see many opportunities ahead driven by the strength of the Zagat brand and the expansion of our user-generated content and distribution vehicles,” say Co-Chairs Tim and Nina Zagat. “From this position and with the changes in the broader media and technology environments, we have determined that it is the right time to take a look at our company’s options for even more rapid long-term growth.”