UBM acquires Business Journals Inc, US Fashion Show portfolio
UBM plc announced on Friday the acquisition of Business Journals Inc (BJI) for $69 million in cash.
BJI is a producer of fashion trade shows in New York and Las Vegas. The company serves the men’s apparel and women’s apparel and accessories markets with trade shows, AccessoriesTheShow, Edit, Fame, Moda, MRket and Stitch. BJI operates several fashion websites and publications. In 2015, the company’s revenues ranged from $33 million to $40 million from Events and $7 million from Other Marketing Services.
"We are delighted to have acquired BJI. This transaction is very much in line with our 'Events First', strategy. It adds to our presence in North America and also in the fashion sector, both of which were already strong following UBM's acquisition of Advanstar at the end of 2014. We see excellent opportunities to deliver an improved experience for customers and to realise the operational benefits which scale will bring."
The acquisition is expected to give UBM a return on investment in 2017 if BJI contributes a full year of strong operational and financial synergies.
UBM plc is a leading global marketing services and communications company that focuses primarily on events. The second largest exhibitions organizer staffs 5,100 people in over 20 countries and runs over 400 events per year.
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