Ascential to sell Pure London and other shows to ITE
Pure London and Birmingham’s Spring and Autumn Fair could soon have a new owner with current proprietor Ascential having struck a conditional deal with ITE Group to sell the business.
ITE is the company behind a raft of major tradeshows including Scoop, Jacket Required and Moda, and the addition of Pure London to its line-up would make it the key player in UK fashion events.
Expanding stock exchange-listed Ascential has been conducting a strategic review of its operations and is set to focus on businesses such as its trend forecasting operations and the giant Cannes Lions event, with its remaining exhibitions business seen as non-core.
The company has entered into the conditional agreement to sell its diversified exhibitions portfolio for an aggregate cash consideration of £300 million on a cash and debt-free basis.
It said Tuesday that†“the sale of the exhibitions business to ITE will allow these brands to prosper under the ownership of a specialised exhibitions organiser.”
The twice-yearly Pure London show is the biggest UK specialist fashion tradesheow and continues to develop its offer. Recent announcement have included a greater focus on sustainability with a specialist area within the event, as wells a kids’ area taking advantage of the ongoing mini-me trend.
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