UBM Boosts Portfolio With Hospitality Title

United Business Media (UBM) has announced plans to acquire hospitality magazine Theme, and the Bar Show hospitality exhibition for £5 million in cash from Mondiale Publishing.

The purchases add to UBM’s current hospitality title, the Publican, which was acquired in February, with the proposed acquisitions expected to enhance the company’s earnings within twelve months.

The new businesses will report to Bernard Gray, chief executive officer of CMP information and United Advertising Publications.

Commenting on the acquisition, Grey said: “These leading publishing assets will give further breadth and depth to the range of specialist products available to our clients. The financial case is attractive and we have identified operating efficiencies and the opportunity to develop new and existing revenue streams.”

David Levin, chief executive officer of UBM, added: “These assets represent another good “bolt on” opportunity for UBM, allowing us to further consolidate our chosen markets. The transactions meet our strict financial criteria and move forward the implementation of our continuing strategy.”

Late last month, rumours circulated that UBM was preparing to offload its 35% stake in Five, with 65% stakeholder, RTL Group, in line to purchase the remaining share for £200 million (see UBM Considers Sell Off Of Stake In Five).

The two groups were believed to have held talks over the deal, which could be completed within two months, as UBM considers Five a non-core business.

Rumours of a possible sale by UBM last surfaced in March, with speculative reports claiming that the company would offload its stake in Five before the departure of then chief executive Lord Hollick (see UBM Considers Sale Of Stake In Five).

UBM: 020 7921 5000: www.unitedbusinessmedia.com