TURKEY - United Business Media has taken a 65 per cent stake in Rotaforte International Trade Fairs and Media, owner of Turkey’s largest jewellery exhibitions.
The deal, brokered by Mayfield Media, gives UBM subsidiary UBM Asia control of the Istanbul Jewellery Show, a 25-year-old international exhibition for jewellery, silver, watches and related equipment The exhibition is supported by the Turkish Jewellery Association and held each year in March and October, attracting an aggregated 1,600 exhibitors and 60,000 visitors, occupying net show floor space of more than 28,000sqm according to UBM.
Rotaforte also publishes a supporting magazine and organises Turkish jewellery pavilions at a number of third party events in Dubai, Italy, and India, as well as selling exhibition space at jewellery events in Russia and Ukraine. The company employs 21 staff in Istanbul, and in 2010 the business is expected to generate revenues in excess of US$5m. The value of the gross assets being acquired is US$300,000.
The deal comes one year after UBM formed a partnership with Rotaforte to promote the Istanbul Jewellery Fair.
"The acquisition of Rotaforte adds a further industry-leading exhibition to our jewellery portfolio and is in line with our strategy to enhance and expand our international presence in geographic regions of significant growth,” said Jime Essink, CEO of UBM Asia.
“Rotaforte provides strong synergies and opens up a wide range of new business opportunities both in Turkey and across the adjacent Middle East and CIS regions.”
