The owner of trade show Pure London, Ascential, has announced it is planning to sell its exhibitions business to ITE Group – which owns Moda, Jacket Required and Scoop – for £300m.
As well as Pure London Ascential’s exhibitions business comprises of Spring and Autumn Fair, Bett, CWIEME, Glee and BE.
The deal is expected to complete in July, no further details are available at this stage.
Ascential CEO Duncan Painter said: “The strategic review of the exhibitions business was undertaken to ensure that we prioritise our time and capital on enabling our customers to succeed in the digital economy. We are therefore pleased to have found a good home and achieved a fair price for the exhibitions business.”
The Ascential exhibitions business generated revenue of £82.9m (or, adjusting for discontinued and sold events, £78.5m) and adjusted EBITDA of £23.3m, for the year to 31 December.