EUROPE - ITE Group has acquired Kiev-based exhibition organiser BeautexCo from BCI R&R for an undisclosed sum.
Beautex runs two annual trade exhibitions for the professional beauty trade and cosmetic and aesthetic medicine industry in the Ukraine. Intercharm and Beautyexpo are forecast to generate revenues of €2.4m in the year to 30 September.
ITE Group said Beautex had nil gross assets on acquisition but was expected to enhance its earnings in the 2012 financial year.
“The addition of these two exhibitions to ITE’s Ukrainian business is consistent with our strategy of building market-leading positions in core markets and sectors and will complement ITE’s existing activities in Kiev,” ITE Group CEO Russell Taylor (pictured) said.
“These events have strong market positions in Ukraine and will benefit from access to ITE’s expertise and international reach.”
The acquisition follows ITE’s purchase last year of Ukraine-based organiser Autoexpo, owners of 10 exhibitions including the Kiev Motor Show.
ITE Group highlighted its investment in the Russian market for rising revenues in the year to 30 September 2011.
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