Euromoney serves up wine shows to Comexposium
Business information and events group Euromoney Institutional Investor announced on Monday that it has sold Adhesion Group and its 74% stake in World Bulk Wine Exhibition to French exhibitions company Comexposium Holding.
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The FTSE 250 firm described Adhesion as a Paris-based exhibitions business, established in 1984 and owned by Euromoney for more than 20 years.
Its principal event, Vinisud, is said to be the international showcase for Mediterranean wines, attracting around 1,650 exhibitors from countries around the Mediterranean.
World Bulk Wine Exhibition runs in Amsterdam each November, and is said to be the number one event for buyers of bulk wine.
Both businesses were “very prestigious”, Euromoney said, and were well-supported by buyers in their respective markets.
“The wine sector is not strategic for Euromoney,” said its managing director of corporate development Christopher Fordham.
“We are delighted to have found in Comexposium a new owner which is looking to invest in the sector and to take these businesses to the next stage of their growth.
“This transaction is part of Euromoney's continuing strategy of recycling capital towards big investment themes like price discovery, post-trade activities, asset management and telecoms.”
The transaction was in line with Euromoney's strategy, the board claimed, including actively managing its portfolio of assets and seeking to sell certain businesses which did not align with its strategy.
“Comexposium continues to develop its activities in strategic industrial sectors and the acquisition of Adhesion Group and World Bulk Wine Exhibition strengthens our presence in the wine sector,” said Comexposium chairman Renaud Hamaide.
“This decision confirms the Comexposium' group's ambitions to expand its international activities in markets with high-growth potential.
“I am delighted that Ahmad Monhem, Vincenzo Jose, Sanchez-Migallon, Otilia Romero de Condes and their respective teams will work with Comexposium to strengthen and develop our presence in these markets.”