MJBiz confirmed Tuesday it has been acquired by the New York-headquartered b2b event and media company Emerald Holding Inc. for $120 million in cash plus potential earnouts. The deal includes MJBiz Con, one of the oldest and largest cannabis-focused trade shows, as well as related media and event brands such as award-winning publications MJBizDaily, Hemp Industry Daily, and MJBizMagazine. In October, MJBiz Con in Las Vegas gathered more than 1,200 exhibitors and 27,000 attendees. The acquisition also includes The Emerald Conference – a cannabis science event that MJBiz acquired in 2021. “MJBiz’s leading event and content portfolio, coupled with their 365-day engagement platform – which connects the entire cannabis supply chain – will diversify our collective product offerings, enhance our growth profile and enable us to deliver even greater value to our customers over the long term,” Hervé Sedky, Emerald’s president and CEO said. Why It Matters Through this acquisition, Emerald – whose largest shareholder is the Toronto-based investment manager Onex Corporation (TSE: ONEX) – will gain a notable presence in cannabis industry trade shows.

Mmp News Author, Medical Marijuana Program Connection, 01/04/2022 12:11:00

Open article: https://mmpconnect.com/emerald-holdings-buys-mjbiz-for-120m-signaling-widespread-acceptance-of-booming-cannabis-industry/