Reed Exhibitions, the company that organizes the National Hardware Show, acquired Expo Nacional Ferretera, an annual event in Guadalajara, Mexico, serving the hardware, construction and electrical markets.
Expo Nacional Ferretera, described as the largest event in Mexico and Latin America, brings with it more than 1,300 exhibiting companies occupying 50,000 square meters and 80,000 buyers from 30 countries who attend the annual event in Guadalajara.
Terms of the deal were not disclosed.
The acquisition of Expo Ferretera, founded in 1989, is the next step in Reed Exhibitions' strategic expansion into the Mexican market. Expo Seguridad, acquired at the end of 2011, is the largest event in Mexico serving the security and safety industry -- and in its second edition under Reed's ownership this month it will enjoy a 17% increase in net square meters and a more than 38% increase in attendance. With Expo Ferretera, Reed is now planning on expansion of its infrastructure in Mexico, the company said.
"Mexico is an attractive, long-term market for Reed Exhibitions and with these two leading brands -- both enjoying synergies with our events in the United States and Brazil -- we are in a position to build the infrastructure necessary for developing a business platform to serve the Mexican market and help Mexican companies to expand their businesses internationally," said Chet Burchett, resident of Reed Exhibitions America. "This was the critical step to propel our plans."
The president of Expo Ferretera, Eduardo Casanova, said Reed Exhibitions matched both commercial expectations and the values upon which he built the show.
"It was important to us that Reed Exhibitions was truly a global organizer, but more important that they share many of the same ideals that we do when it comes to delivering customer value. Ultimately we share the mission of delivering an event that provides a positive business outcome for all those who participate" said Casanova.
Nan Walsh, executive VP for Reed Exhibitions in North America, is responsible for managing the business in Mexico. "We are delighted that Eduardo and his staff will remain involved with the event, and together we can grow the event and contribute to the tradeshow industry in Mexico."
Walsh said the location of Expo Ferretera in Guadalajara is also important. "It's a great location for events and we now are operating in both Mexico City and Guadalajara," she said. "We now have an opportunity to build deeper relationships in two of the country's most important cities for trade shows and to better participate in the markets we serve today ... as well as those we hope to serve in the future."
Casanova said: "Reed Exhibitions has a long standing and successful brand in the National Hardware Show (in Las Vegas, Nev.) They understand the industry space and will certainly add a great deal of value identifying new opportunities for Expo Ferretera."
The transaction was completed this week.