Trade show giant UBM, which organizes FN Platform and Magic, plans to beef up its portfolio of events.
The company said today it will pay $69 million to buy Business Journals Inc., a producer of fashion trade shows in New York and Las Vegas such as Accessories the Show, Moda, Stitch and MRKet. As part of the deal, UBM will also acquire a number of trade magazines.
“Having the greatest possible selection of brands brought together in one place and merchandised in a compelling way makes every retailer’s life easier, and helps the wholesale buying process,” said Chris DeMoulin, managing director of the fashion division for UBM Americas, in a statement today.
“We are really excited about the expanded possibilities for helping retail buyers be more efficient and find the best products for their stores,” DeMoulin added. “In doing so, we will be bringing exhibitors an even greater number of retailers who want to find and buy the best fashions. Additionally, having media brands like MR and Accessories will help our markets stay informed and connected 365 days a year.”
The combination of the two entities are expected to make shopping for industry buyers “more seamless and efficient,” with better market dates, locations and show organization.
Business Journals president and CEO Britton Jones said “the complementary nature of our portfolios and teams will undoubtedly create opportunities for growth and a better overall experience for our brands and retailers. I am excited by this union and confident that together we will craft the future of events for the fashion industry.”
UBM plc of the U.K. purchased Advanstar Communications Inc. for $972 million in 2014.
Since then, the company has restructured its executive ranks.
In 2015, DeMoulin was named managing director of its fashion business, reporting to Simon Foster, CEO of UBM Americas.
At the time, the organization also promoted Tommy Fazio to president of its retail fashion division, from president of men’s fashion, and tapped Erik Ulin to fill Fazio’s former role.