The consideration comprises $9.7m cash on completion and a further performance-related consideration of up to $6.4m, payable over the next two years.
Launched in 2001, this annual exhibition is aimed at international and domestic manufacturers and distributors of child and baby products for the Chinese market. This year’s show took place from 22 to 24 July, hosting over 850 exhibitors in 69,000 square metres of gross exhibition space. Attendees included retailers, agents, distributors, purchasing agents, investors and media agencies.
In addition to the main business-to-business tradeshow, UBM is also acquiring two smaller complementary business-to-consumer child and baby products fairs in Guangzhou and Beijing. The acquisition also includes Fashion Baby, one of China’s leading consumer titles serving mothers and pregnant women, which has a readership of 400,000. The magazine’s website has over 75,000 registered users and generates more than 3.6 million page views per month.
The business employs 59 staff at its Hangzhou office and is expected to generate approximately $6.5m in revenue this year. This market represents an attractive sector for UBM, with strong growth potential underpinned by current economic and demographic trends.
Jimé Essink, President & CEO of UBM Asia, said: “We are entering a dynamic new business sector through the acquisition of this established and profitable platform. By applying our knowledge of best practice in events, online and print, we look forward to developing these businesses further for the benefit of our customers, as well as driving growth as this exciting market continues to expand. We are also excited about working closely with the experienced and professional team at CBME.”
