United Business Media acquires Shanghai Maternity Expo for $16 million
United Business Media Ltd (LON:UBM) said it has acquired the Shanghai International Children-Baby-Maternity Products Expo (CBME) and related businesses on behalf of its UBM Asia division for up to US$16.1 million.
It is paying US$9.7 million cash on completion and a further performance-related up to US$6.4 million over the next two years.
Launched in 2001, this annual exhibition is aimed at international and domestic manufacturers and distributors of child and baby products for the Chinese market.
This year's show took place from 22 to 24 July, hosting over 850 exhibitors in 69,000 square metres of gross exhibition space. Attendees included retailers, agents, distributors, purchasing agents, investors and media agencies.
In addition to the main business-to-business tradeshow, UBM is also acquiring two smaller complementary business-to-consumer child and baby products fairs in Guangzhou and Beijing. The acquisition also includes Fashion Baby, a Chinese consumer title with a readership of 400,000. The magazine's website has over 75,000 registered users and generates more than 3.6 million page views per month.
The acquired business employs 59 staff at its Hangzhou office and is expected to generate approximately US$6.5 million in revenue this year. This market represents an attractive sector for UBM, with strong growth potential underpinned by current economic and demographic trends.
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