dmg world media acquires IFAE
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Monday 4 June 2001
dmg world media, the exhibition and related activities' division of DMGT, has acquired Florida-based International Fine Art Expositions (IFAE), which organises the prestigious Palm Beach International Art & Antique Fair, Art Palm Beach, the Palm Beach Town & Country International Exposition and the Texas International Fine Art Fair.
The cost is estimated at US $19 million (£13 million), including an initial payment of US $18 million and a further payment in 2002, based on IFAE's profits for the year ending 31 December, 2001.
dmg world media produces 300 public shows and trade exhibitions worldwide and a diverse mix of conferences, publications and on-line services. It has shows and publications in North America, Latin America, Europe, Asia, Australasia and the Middle East, operating out of 33 offices in 9 different countries. Significant holdings in the art & antique sector include Antique Trade Gazette (UK), Newark Antiques and Collectables Fair (UK), Antique Week (US), the Original Miami Beach Antique Show (US), and more than 100 regional art & antique fairs events in the United States, United Kingdom and France.
Inquiries to:
Mark Carr Executive Vice President (Art & Antiques) +44 (0)20 7420 6606
Peter Williams Finance Director, DMGT +44 (0)20 7938 6631