The parent company of Moda is to acquire Pure London, Spring Fair and Autumn Fair.
ITE Group, which also owns Scoop and Jacket Required, has entered into a conditional agreement to buy Ascential Exhibitions this July for £300 million. The move will see the UK’s biggest fashion trade shows come together under one single owner.
Alongside its fashion events, the firm’s portfolio also includes global trade shows Bett CWIEME, Glee and BE. The sale follows a strategic review carried out by Ascential, which concluded that selling its exhibitions division was in the best interest of its shareholders.
Ascential said the sale will allow its brands to “prosper under the ownership of a specialised exhibition organiser.” The exhibitions business generated revenues of 82.9 million pounds in the financial year leading to 31 December 2017.
“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,” said Duncan Painter, Chief Executive Officer of Ascential in a statement. “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.”