E Uluslararası Fuar Tanıtım Hizmetleri A.Ş(EUF) in Turkey, a wholly owned subsidiary of exhibitions business ITE Group plc, has acquired Platform Exhibitions Inc from Mahmut and Ayse Er.
Platform owns the Beauty Eurasia exhibition which serves the beauty, personal care and cosmetics industries in Turkey and the surrounding region. Beauty Eurasia is held in Istanbul in June each year. The 2013 exhibition was the 9th edition of the event which sold more than 8,000m2 net and was attended by over 21,000 professional visitors.
ITE has an established portfolio of existing Beauty events in Ukraine and Russia and earlier this year acquired an interest in the CosmoBeaute series of events in South East Asia.
The terms of the deal were not disclosed. The consideration will be financed out of the Group’s existing balance sheet and the acquisition is expected to be earnings enhancing in the first full year of ownership.
Commenting on the acquisition, ITE’s Chief Executive Officer, Russell Taylor, said, “Beauty Eurasia is the leading beauty and personal care exhibition in Turkey. The addition of this exhibition to ITE’s Turkish business is consistent with our strategy of building market leading positions in core markets and sectors. The beauty and personal care industry is a growth sector in developing markets and with this acquisition, ITE will leverage its international exhibition expertise to develop further its position and benefit from a wider portfolio within this sector.”
Turkey, Istanbul & UK, London
- ITE Pre-close trading update for the year ending 30 September 2013 Posted on October 1, 2013
- ITE Group plc – Interim Management Statement for the period April to July 2013 Posted on July 16, 2013
- ITE Group – results for the 6 months to March 2013 Posted on May 22, 2013
- ITE Group acquires Trade Link ITE Posted on February 4, 2013
- ITE Group acquires a minority stake in ABEC in India Posted on December 4, 2012
- ITE Group acquires Krasnodar Expo Posted on March 3, 2011
- ITE Group acquires Russian exhibition organiser, MVK for €33 million December 20, 2010
- ITE acquires two Ukrainian exhibitions Posted on April 16, 2012
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