LONDON, UK: Informa Plc has reached an agreement to acquire Winsight, the leading specialist B2B Events, Data and Media Group for the Foodservice market, for an initial enterprise value of $380m, payable in cash.
Stephen A. Carter, Group Chief Executive, Informa, said: “Following on from the acquisition of Tarsus, we are delighted to further expand our B2B portfolio through the addition of Winsight. Alongside Technology, Life Sciences and Aviation, this now adds Foodservice to our roster of category leading B2B businesses with scale, international reach and an increasingly diversified service offering spanning Live & On-Demand Events, Specialist Data/Research, Specialist Media and related B2B Digital Services.”
He added: “This acquisition is fully funded by in-year cash flow growth and our balance sheet, and will further enhance revenues, margins, earnings and cash flow.”
Winsight’s revenue is generated almost entirely in North America, where it has a team of more than 300 Colleagues, largely based out of Chicago and Washington DC.
Informa has been building a position within the broader Food and Foodservice market for some time. Within Informa Connect, we own and operate the leading B2B Event for the US Catering Industry (Catersource) alongside several other specialist B2B Events (CREATE). We also reach more than 1 million industry professionals through our portfolio of leading specialist media brands, including NationÕs Restaurant News, Restaurant Hospitality, Food Management and Supermarket News.
Within Informa Markets, company has built a strong portfolio serving the Asian Food and Foodservice Market through brands such as Hotelex, Food & Hospitality and HOFEX. In addition, it owns and operate a range of Live & On-Demand B2B Events across the broader food market, including National Products Expo, Supplyside West and Vitafoods.
The Foodservice market is large and growing, characterised by a fragmented supply chain and high levels of innovation. The combination will create a category leader offering a range of specialist B2B services, generating annual revenues of $115m+ in the US alone;
Combination is expected to create operating synergies through areas such as procurement, real estate, technology and event contracts, as well as incremental revenue opportunities through the cross-marketing of major brands, international sales and digital expansion.
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