INL buys Cuisine magazine

The food and wine magazine was set up 17 years ago by Julie Dalzell and has remained in family hands since then. It has a circulation of about 88,000 in New Zealand and Australia.

INL chairman Ken Cowley said Cuisine complemented its existing stable of magazines including NZ House & Garden, onHoliday, NZ Gardener and Style.

Ms Dalzell will stay on as consulting publisher when the deal, which covers Cuisine's associated businesses -- the Cuisine Wine Annual, wine labeling business and Cuisine website -- is finalised early next year.

No redundancies are expected.

Shares in INL plunged 14c to $2.88 today, a move brokers said was unrelated to the Cuisine purchase.

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