MJBiz Acquired By Emerald X For $120 Million-Plus
The deal gives Emerald a foothold in trade shows focused on the cannabis industry
MJBiz has been acquired by Emerald X, a wholly owned subsidiary of Emerald Holding, a New York-based business-to-business event and media company, for $120 million in cash plus potential earnouts.
The acquisition includes MJBizCon, the oldest and largest trade show of its kind in the cannabis industry, as well as related media and event brands that include award-winning publications MJBizDaily, Hemp Industry Daily and MJBizMagazine.
The purchase also includes The Emerald Conference, a cannabis science event MJBiz acquired in 2020.
Hervé Sedky, Emerald’s president and CEO, said the deal fits with Emerald’s strategic plans.
“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,” Sedky said.
Emerald’s major events include Outdoor Retailer, ASD Market Week and the International Pizza Expo.
The company’s acquisition of Denver-based MJBiz represents major deals for both the event and cannabis industries.
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