Business Journals, Inc. (“BJI”), an integrated media company with extensive trade show, digital and other marketing resources, today announced its sale to UBM plc (LSE: UBM-LN), the world’s leading business-to-business events organizer and marketing services organization, for $69 million in cash. BJI organizes leading fashion events in New York and Las Vegas featuring marquee properties such as Accessories The Show, FAME, Moda, Stitch, and MRKet, and publishes related trade magazines including MR and Accessories. Through this acquisition, UBM will expand its US fashion event portfolio, adding BJI’s brands to its MAGIC, PROJECT, Coterie, FN Platform, and other fashion events.
JEGI CLARITY (www.jegiclarity.com), the leading independent investment bank for the global media, information, marketing, software and tech-enabled services sectors, headquartered in New York, NY, represented BJI in this transaction.
The integration of these two complementary businesses and hallmark fashion brands will make shopping the market more seamless and efficient for all. Additionally, the experience for buyers and brands at each show will be elevated as market dates, locations, and show configurations will be organized in ways that best serve market needs.
Britton Jones, President & CEO of BJI, commented: “UBM Americas is the perfect home for BJI’s hallmark brands. 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. This is a great day for our customers, our industry and for BJI.”
Scott Schulman, CEO of UBM Americas, said: “Having BJI’s shows join Coterie, MAGIC, and Project within the same company provides the fashion industry with a comprehensive range of finely segmented shows to serve the needs of every fashion category. Adding BJI allows us to be more responsive to our customers as we work to coordinate venues and dates, and organize show floors to make the process easier and more valuable for exhibitors and retailers. Moreover, as part of UBM, BJI becomes part of a global company that can help its customers expand internationally.”
Added Chris DeMoulin, Managing Director, Fashion, UBM Americas: “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. We are really excited about the expanded possibilities for helping retail buyers be more efficient and find the best products for their stores. 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.”
All BJI brands and retailers will gain access to UBM’s digital wholesale marketplace for the fashion industry, Shop The Floor.
Selling a business is a very complicated process. At times, it feels like a high stakes and very emotional chess match. Mac Brighton and I are thrilled with the result that we achieved by working with JEGI. They know the ropes and helped devise the strategy, process and timetable that enabled us to achieve all of our critical goals. We never would have had such a successful outcome without their guidance, deft negotiating skills, energy and commitment.Britton Jones, President & CEO, Business Journals, Inc.