UBM acquires majority economic interest of Shanghai International Franchise Exhibition

June 14, 2018 — Fusion DigiNet

UBM SinExpoUBM Sinoexpo, a subsidiary of UBM plc, has acquired a 70% economic interest in the Shanghai International Franchise Exhibition, organised by Shanghai Exhibition-Conference Ltd.

Established in 2005, the biannual SFE is one of the largest franchising events in China, hosting 221 exhibitors with over 450 brands and 50,261 visitors in the spring 2018 edition. SFE’s exhibitors are mainly in the food, beverage and retail sectors which is reflective of the trends in the Chinese franchise market today. Every year investors, potential franchisees, distributors, agents, dealers, and social organisations attend the two events in search of new, foreign, and commercially attractive franchise brands for the domestic market.

According to the China Chain Store & Franchise Association, China’s top franchises generates total sales of RMB 428 billion from 124,068 stores across the country. Currently, China has over 4,500 franchises and chain store companies creating more than 5 million jobs nationwide. Foreign franchise brands are becoming increasingly interested in 2nd and 3rd tier Chinese cities given favourable labour costs, reasonably priced real estate facilities, and untapped consumer spending.

Jime Essink, President and CEO of UBM Asia, said, “Our combination with SFE comes at an opportune time given our complimentary resources and shows in China. The Spring edition of SFE has already successfully co-located with our Hotel Plus event at SNIEC for two editions and we plan to co-locate SFE’s autumn edition with Food & Hotel China this November. The synergies and crossovers between professionals in the food, beverage, and retail sectors of these collocated events creates a complete and compelling industry value chain opportunity for visitors and exhibitors.”

The next edition of SFE will take place on 13-15 November 2018 at the Shanghai New International Expo Centre.

Shanghai

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ITE Group – results for the 6 months to March 2013

May 22, 2013 — Fusion DigiNet

ITETrade exhibitions and conferences company ITE Group has announced interim results for the 6 months to March 2013.

Highlights

ITE 6monthstoMar13

Click on the table for a larger image 

  • Like-for-like revenue growth of 10%+ in H1
  • Biennial and event timing impacts H1 profits by -£3.6m
  • Continued strong cash generation: net cash as at 31st March of £21.7m
  • Three recent acquisitions (ABEC in India, Trade-Link and ECMI in Malaysia – see related articles below) in Asia
  • Good forward visibility: £174m of revenue booked for the full year – (£156m this time last year)

Click here for full details of the announcement

Russell Taylor, CEO of ITE Group plc, commented:

“ITE has delivered a good performance over the first half of the year, delivering solid organic growth in a period which was negatively impacted by biennial and event timing differences. Our three recent acquisitions of ABEC in India, Trade-link and ECMI in Malaysia represents progress in achieving the Group’s strategic aims to expand the Group’s territorial operations in markets with further potential for growth.

The Group has a strong balance sheet and its main markets are trading well. As at 17 May 2013 the Group has booked revenues for the current financial year of £174 million (2012: £156 million), which includes sales from newly acquired businesses as well as organic growth. On a like-for-like basis revenues booked for the full year are 8% ahead of this time last year. The Group is in a strong financial position with continued good trading conditions in our markets the Board has confidence in the full year outcome”.

UK, London

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Tarsus Group to acquire Turkish exhibition organiser CYF Fuarcılık for up to £6.2M

October 25, 2012 — Fusion DigiNet

Tarsus Group plc, the international business-to-business media group, is to acquire Turkish exhibition organiser CYF Fuarcılık A.Ş. for a maximum consideration of TL18 million (approximately £6.2 million). CYF will be acquired by IFO, a 75% owned subsidiary of Tarsus, and represents a significant bolt-on acquisition to the Group’s Turkish division.

The acquisition also completes the Group’s Project 50/13 strategy, whereby 50% of Tarsus’ revenue will be sourced from the Emerging Markets by 2013, more than a year ahead of schedule and will enable the Group to increase the pace of its future earnings growth.

The governmental approvals in respect of the completion of the acquisition of the China International Automotive Aftermarket Industry and Tuning (Guangzhou) Trade Fair (“GZ Auto”) continue to make positive progress, albeit slower than originally anticipated. Tarsus expects to complete the acquisition of GZ Auto by the end of the year.

Acquisition highlights

  • Acquisition of an initial 70% of CYFfor an initial cash consideration of approximately £1.4 million payable on completion and an estimated deferred payment of approximately £0.7 million due in 2013, for an aggregate estimated payment of approximately £2.1 million (the “Consideration”).
  • The consideration will be met from IFO’s existing cash resources.
  • CYF owns and organises two annual business-to-business exhibitions:
    • Eurasia Plant Fair (held in December), an international exhibition in Istanbul (2011: 10,800 net square metres), focusing on ornamental flowers and plants, landscape and related supply industry; and
    • Yapı Decoor (held in March), an international exhibition in Ankara (2012: 6,200 net square metres), focusing on construction material and building renewal).
  • Following the acquisitions of IFO in 2011 and Life Media in March 2012, CYF represents a significant bolt-on opportunity that adds new sectors and scale to Tarsus’ Turkish exhibition portfolio.
  • Founders Hakan Yüksel and Osman Candemir will continue to manage CYF after its acquisition.
  • Put and call options between IFO and the Vendors have been put in place in relation to the remaining 30% shareholding in CYF at various points between 2015 and 2018 and the  aggregate consideration payable for acquiring 100% of CYF is capped at TL18 million (approximately £6.2 million).
  • For the year ended 31 December 2011, CYF recorded unaudited profit before tax of approximately TL0.4 million (approximately £0.2 million). CFY’s unaudited adjusted profit before tax for the year ended 31 December 2011 was TL0.7 million (approximately £0.25 million). CYF’s unaudited gross assets as at 31 December 2011 were TL1.4 million (approximately £0.5 million).
  • The Acquisition is expected to be earnings accretive in the current financial year ending 31 December 2012 and thereafter.
  • The acquisition is expected to complete in early November 2012.

Douglas Emslie, Tarsus Group Managing Director, said:

“To reach the 50/13 strategic milestone a year early is a major achievement for the Group.  It will enable us to quicken the pace of our earnings growth earlier than expected.

“The acquisition of CYF with our partner at IFO brings additional scale to our already substantial operations in Turkey which we now aim to develop and expand both in the domestic market and the wider region.”

Exchange rate £1 = TL2.9

UK, London & Turkey, Ankara

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