Acquisition by DMG Exhibitions

Text size:

Monday 14 June 1999

DMG Exhibition Group (DMG Exhibitions), a division of DMGT, has acquired through a US subsidiary California Gift Show and Surf Expo.

Mark Alcock, Deputy Managing Director of DMG Exhibition Group, said: "These are two shows of the highest calibre, and they put us in an extremely strong position within both business sectors for further organic and acquisition growth".

The California Gift Show, held in January and July at the Los Angeles Convention Centre, is the third largest gift show in the US, and the seventh largest in the World.

Surf Expo is the dominant trade show in its industry, held in September and January at the Orange County Convention Centre in Orlando, and is the leading market place for active water sports beachwear and water related equipment.

DMG Exhibitions is one of the world's leading exposition companies annually organising over 200 events worldwide. It has 24 offices in 8 countries with around 800 employees. It is also an influential publisher with 60 magazine titles, 25 yearbooks and directories, 30 market reports and 2 trade newspapers. Through Southex, DMG runs over 100 Trade and Consumer shows in North America.

DMG Exhibitions' recent purchases include the two major shows in Dubai, The Big Five and Index, making it the biggest independent exposition organiser in the Middle East. Through the purchase of Regala gift shows and Tag Benyx, DMG Exhibitions has a significant presence in Argentina and Brazil respectively. It has also recently become the largest exposition organiser in New Zealand, with the purchase of XPO Exhibitions.

The acquired shows had net assets of US$ Nil at 31st December, 1998. The transaction should be earnings enhancing, before amortisation of goodwill, for DMGT in the current financial year.

Enquiries to:
Michael Franks, Managing Director, Consumer and Retail, DMG Exhibitions - 0181 515 2020
Nicholas Jennings, Assistant Company Secretary, DMGT - 0171 938 6629