MidOcean Partners Announces Penton Acquires World Tea Media, the Leading Event and Digital Information Company Dedicated to the Global Tea Industry
October 2, 2015
Will tap into Penton’s expertise in accelerating emerging consumer market segments to mass distribution
New York – MidOcean Partners (“MidOcean”), a premier middle market private equity firm, is pleased to announce that on September 30, 2015 Penton acquired World Tea Media, the leading event and digital information company dedicated to the global tea industry. World Tea Media serves the growing North American specialty multi-billion dollar tea market. This acquisition complements Penton’s global leadership of information services across the lifestyle and food industries.
Penton’s deep experience with its natural products portfolio in tandem with its strong relationships with consumer packaged goods brands, retailers, suppliers and investors has grown the Natural Products Expo East and West tradeshows by 20%. It has created a formula to nurture and grow innovative entrepreneurial businesses in emerging markets into large retailers with mass distribution. Penton also has the ability to tap into large food manufacturers through its leading food brands -- Multi-Unit Food Service Operators Conference (MUFSO), Nation’s Restaurant News (NRN) and Supermarket News. Penton will combine its learning’s from both the natural products and food marketplaces to accelerate the growth of tea and beverage companies.
World Tea Expo will be led by Fred Linder, Group President, Penton, who will continue to lead Penton’s New Hope business as well as Penton Exhibition Services. “An essential element of our strategy is to focus on high-growth sectors and extend leadership positions. World Tea Media is at the forefront of the United States tea industry and is poised to double its size over the next five years. This portfolio of events and digital products perfectly complements our assets. We have the ability to nurture and grow entrepreneurial businesses through our understanding of consumer behavior, product innovation, future trends and exceptional relationships,” said Linder. “We’re excited to work with the team at World Tea Media to further extend their value as an information resource for the global tea industry, with an emphasis on the growing specialty, premium tea and healthy beverage segments.”
World Tea Media produces the annual World Tea Expo, which brings together buyers with purchasing influence including grocery chains, mass merchandisers, independent retailers, tea shops and coffee houses from the United States as well as 46 countries around the world and World Tea Academy (WTA), the leading online tea education and certification program. They also produce World Tea News, the premier news portal for the tea industry and the North American Tea Championship (NATC), the only independent and professionally judged tea competition in North America.
* * * *
About Penton Media
Penton is an innovative information services company that empowers nearly 20 million business decision makers in markets that drive more than 12 trillion dollars in purchases each year. Our products inform with rich industry insights and workflow tools; engage through dynamic events, education and networking; and advance business with powerful marketing services programs. Penton is the way smart businesses buy, sell and grow. Headquartered in New York, Penton is privately owned by MidOcean Partners and Wasserstein & Co., LP. For more information, visit http://www.penton.com.
About MidOcean Partners
MidOcean Partners is a premier New York-based alternative asset manager that specializes in middle market private equity and alternative credit investments. Since its inception in 2003, MidOcean Private Equity has managed approximately $4.8 billion of committed capital and has targeted investments in high-quality middle market companies in the consumer and business services sectors. MidOcean Credit Partners was launched in 2009 and currently manages over $8 billion across a series of alternative credit strategies, collateralized loan obligations (CLOs), and customized separately managed accounts as of December 31, 2019.
MidOcean Media Relations Contacts
Nathaniel Garnick/Amanda Klein
Gasthalter & Co.
MidOcean Investor Relations Contact