This is for an initial cash consideration of £1.5m and further deferred performance-related consideration of up to £150,000. UBM is selling the portfolio on behalf of its UBM Connect division. The transaction is expected to close within a month, subject to the conclusion of a TUPE consultation process.
The sale of the portfolio – which comprises The Publican print magazine title, websites and awards event, together with the Theme and Bar Show brands – augments William Reed’s existing portfolio serving this market.
This transaction involves a total of 14 staff transfering to William Reed in accordance with the application of TUPE.
