Adhesion is a Paris-based exhibitions business, established in 1984 and owned by Euromoney for over 20 years. Its principal event, Vinisud, is the international showcase for Mediterranean wines and it attracts around 1,650 exhibitors from countries around the Mediterranean. World Bulk Wine Exhibition runs in Amsterdam each November and is the number one event for buyers of bulk wine. Both businesses are very prestigious and are well supported by buyers in these markets, says Euromoney.
This transaction is in line with Euromoney’s strategy, including actively managing its portfolio of assets and seeking to sell certain businesses which do not align with its strategy.
Christopher Fordham, Euromoney’s Managing Director, Corporate Development, said: “The wine sector is not strategic for Euromoney. We are delighted to have found in Comexposium a new owner which is looking to invest in the sector and to take these businesses to the next stage of their growth. This transaction is part of Euromoney’s continuing strategy of recycling capital towards big investment themes like price discovery, post-trade activities, asset management and telecoms.”
Commenting on the transaction, Renaud Hamaide, Chairman of Comexposium, said: “Comexposium continues to develop its activities in strategic industrial sectors and the acquisition of Adhesion Group and World Bulk Wine Exhibition strengthens our presence in the wine sector. This decision confirms the Comexposium’ group's ambitions to expand its international activities in markets with high-growth potential. I am delighted that Ahmad Monhem, Vincenzo Jose, Sanchez-Migallon, Otilia Romero de Condes and their respective teams will work with Comexposium to strengthen and develop our presence in these markets.”
