Diversifies into Cannabis Industry for Immediate Expansion and Growth
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NEW YORK, NY. (January 4, 2022)— Emerald Holding, Inc. (NYSE: EEX) (“ Emerald” or the “ Company”) today revealed that it has actually finished the acquisition of MJBiz, the leading occasion manufacturer and material platform serving the vast array of business running in the big and quickly growing marijuana market. The addition of MJBiz additional speeds up Emerald’s method of providing 365- day client engagement while likewise improving its portfolio optimization efforts by offering a preeminent platform to broaden into among the greatest development organization sectors in North America. MJBiz Acquisition Highlights:
- Founded in 2011, MJBiz produces MJBizCon, the earliest and leading B2B marijuana exhibition in America, the Emerald Conference and associated media brand names consisting of MJBizDaily, Hemp Industry Daily and MJBiz Magazine
- In 2021, MJBiz’s profits were roughly $27 million, which were near pre-pandemic levels
- MJBizCon is a leading exhibition in the marijuana market having actually included more than 1,200 displaying business and 27,000 participants, consisting of over 18,000 paid registrations, at the October 2021 occasion, matching pre-pandemic levels.
- The MJBiz platform provided 38% substance yearly earnings development in the 3 years prior to the pandemic (2017-2019). In addition to running the leading marijuana market exhibition, the MJBiz brand name is the leading source for actionable organization intelligence in the marijuana market.
- MJBiz management, consisting of CEO Chris Walsh, Senior Vice President of Events and Sales, Jess Tyler, and Senior Vice President of Content and Audience Development, Pam Moore, will continue to lead the everyday operations of business using their extraordinary understanding and experience in case and material platforms.
Hervé Sedky, Emerald’s President and CEO, stated, “This is a transformational acquisition for Emerald as it represents a crucial next action in the execution of our tactical efforts and highlights our dedication to progress and grow our consumers’ services 365 days a year.”
Mr. Sedky included, “We have actually long appreciated MJBiz’s sterling credibility for being the most relied on occasion and material manufacturer serving business side of the marijuana and hemp markets and their particular individuals. MJBiz’s leading occasion and material portfolio paired with their 365- day engagement platform, which links the whole marijuana supply chain, will diversify our cumulative item offerings, improve our development profile and allow us to provide even higher worth to our consumers over the long term.”
Cassandra Farrington, MJBiz Cofounder and Chair of its Board, commented, “Our company has actually experienced huge development because its beginning, at first as a how-to resource to assist dispensary owners run their companies much better, into our position today as the leading business resource for the marijuana sector. Incorporating with a bigger company offers the extra resources and channels to open the next stage of MJBiz’s development and is the best next action in our advancement as a company. We selected Emerald due to the fact that they plainly value the special elements of our brand name and are dedicated to serving the market’s growth.”
Emerald paid $120 million as preliminary factor to consider upon closing of the deal, with possible future payments subject to the efficiency of MJBiz through 2022.
MJBiz was specifically represented and encouraged by Jeff Gruenhut and John McGovern of Grimes, McGovern & Associates.
MJBiz co-founders and Board members, Cassandra Farrington and Anne Holland, will continue to talk to business.
MJBiz’s next occasions consist of the Emerald Conference, February 27- March 1, 2022, in San Diego, CA at the Loews Coronado Bay Resort, and MJBizCon, November 15-18, 2022, in Las Vegas, NV at the Las Vegas Convention.
Cautionary Statement Concerning Forward-Looking Statements
This news release includes specific positive declarations, consisting of, however not restricted to, Emerald’s expectations concerning the tactical and monetary take advantage of the acquisition of MJBiz. These declarations include dangers and unpredictabilities, consisting of, however not restricted to, Emerald’s capability to effectively incorporate MJBiz’s service; the anticipated levels of MJBiz’s income and success development; and financial, competitive, governmental and regulative aspects beyond the Company’s control that might trigger its company, market, method, funding activities or real outcomes to vary materially. See “Risk Factors” and “Cautionary Note Regarding Forward-Looking Statements” in the Company’s most just recently submitted regular reports on Form 10- K and Form 10- Q and subsequent filings. The Company carries out no commitment to upgrade or modify any of the positive declarations included herein, whether as an outcome of brand-new details, future occasions or otherwise. About Emerald:
Emerald’s skilled and knowledgeable group grows our consumers’ organizations 365 days a year through connections, material, and commerce. We broaden connections that drive brand-new service chances, item discovery, and relationships with over 140 yearly occasions, matchmaking, and lead-gen services. We develop material to guarantee that our clients are on the cutting edge of their markets and are continuously establishing their abilities. And we power commerce through effective year-round trading. We do all this by perfectly incorporating in-person and digital platforms and channels. Emerald is immersed in the markets we serve and dedicated to supporting the neighborhoods in which we run. As real partners, we produce experiences that influence, impress, and provide advancement outcomes. For more details, please see http// www.emeraldx.com/
MJBiz is the leading B2B resource for the marijuana market. Established in 2011, it is the most relied on independent publisher and occasion manufacturer serving America’s marijuana market business owners and financiers. MJBiz produces America’s earliest and biggest marijuana trade convention: MJBizCon. The 2015-2019 occasions were each called to Trade Show Executive’s (TSE) Fastest 50 list, and in 2019 MJBizCon was #72 on TSE’s Gold100 The 2022 occasion will go back to Las Vegas November 15-18,2022 The MJBiz group likewise produces MJBizDaily and other media outlets covering news and analysis of the cannabis and hemp markets. For additional information about MJBizCon or MJBizDaily, please visitwww.mjbizdaily.com.
Emerald Holding, Inc.
Chief Financial Officer
Emerald Media Contact:
MJBiz Media Contact:
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