NEW YORK, NY. (January 4, 2022) — Emerald Holding, Inc. (NYSE:EEX) (“Emerald” or the “Company”) today announced that it has completed the acquisition of MJBiz, the leading event producer and content platform serving the wide range of companies operating in the large and rapidly growing cannabis industry. The addition of MJBiz further accelerates Emerald’s strategy of delivering 365-day customer engagement while also enhancing its portfolio optimization efforts by providing a preeminent platform to expand into one of the highest growth business sectors in North America.MJBiz Acquisition Highlights:
Hervé Sedky, Emerald’s President and CEO, said, “This is a transformational acquisition for Emerald as it represents an important next step in the implementation of our strategic initiatives and underscores our commitment to evolve and grow our customers’ businesses 365 days a year.”
Mr. Sedky added, “We have long admired MJBiz’s sterling reputation for being the most trusted event and content producer serving the business side of the cannabis and hemp industries and their respective participants. 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.”
Cassandra Farrington, MJBiz Cofounder and Chair of its Board, commented, “Our organization has experienced massive growth since its inception, initially as a how-to resource to help dispensary owners run their businesses better, into our position today as the leading commercial resource for the cannabis sector. Integrating with a larger organization provides the additional resources and channels to unlock the next phase of MJBiz’s growth and is the right next step in our evolution as a business. We chose Emerald because they clearly value the unique aspects of our brand and are committed to serving the industry’s expansion.”
Emerald paid $120 million as initial consideration upon closing of the transaction, with potential future payments contingent on the performance of MJBiz through 2022.
MJBiz was exclusively represented and advised by Jeff Gruenhut and John McGovern of Grimes, McGovern & Associates.
MJBiz co-founders and Board members, Cassandra Farrington and Anne Holland, will continue to consult with the business.
MJBiz’s next events include 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 Center.
Financial Contact: Emerald Holding, Inc. David Doft Chief Financial Officer 1-866-339-4688 (866EEXINVT)
Emerald Media Contact: Beth Cowperthwaite SVP, Communications 203-606-6243 [email protected]
MJBiz Media Contact: Tess Woods 617-834-9932 [email protected]
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