The owner of trade event Jewellery & Watch, Ascential Events, is planning to sell its trade show and exhibitions business to ITE Group for £300m.
As well as Jewellery & Watch, which is part of giftware show Spring Fair, the deal also includes the sale of trade shows including Autumn Fair, fashion event Pure London, education fair Bett, gardening event Glee, CWIEME and BE.
ITE Group already operates several trade events globally including fashion events Moda, Scoop London and Jacket Required in the UK as well as a jewellery event – Jewelry Salon in Russia.
No further details regarding the deal were available at this stage but, a statement issued by Ascential chief executive Duncan Painter, regarding the deal, said: “The strategic review of the Exhibitions business was undertaken to ensure that we prioritize our time and capital on enabling our customers to succeed in the digital economy. We are therefore pleased to have found a good home and achieved a fair price for the Exhibitions business.
“Winning in the digital economy is one of the biggest challenges our customers face and we want to ensure we are at the forefront of helping them achieve this.”
Historically Retail Jeweller and Jewellery & Watch were owned by the same parent company. However, this ceased to be the case in 2017 when Ascential Plc sold off Emap, the publishing arm of its business, which includes Retail Jeweller and 10 other titles including Drapers, Nursing Times and Construction News to business publisher The Metropolis Group.