By Andrew Kersley
B2B trade show organiser and media conglomerate Emerald Holding has announced it has finalised its acquisition of MJBiz, a leading B2B content and event producer for the cannabis industry, for an initial fee of $120m.
MJBiz reported revenues of $27m in 2021, which it says is similar to its pre-pandemic levels, and delivered 38% compound annual revenue growth in the three years prior to Covid-19.
The outlet’s senior management, including chief executive Chris Walsh, will continue to lead the day-to-day operations of MJBiz, while co-founders and board members Cassandra Farrington and Anne Holland will continue to consult with the business.
The initial $120m fee is set to rise by an undisclosed amount depending on the performance of MJBiz during 2022.
Source: Press release
Deal value: $120m
Country: US
Status: Official
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