Progressive Grocer, Frozen Food Age, RT Magazines And Related Assets Acquired By Bill Communications, Inc.
The Jordan, Edmiston Group Represents Progressive Grocer Associates LLC In Its Sale To Bill Communications, Inc.
The Jordan, Edmiston Group, Inc. announced today that Progressive Grocer Associates LLC (PGA) has sold its grocery and retail technology business-to-business publications to Bill Communications, Inc., a North American subsidiary of Dutch publisher VNU B.V. The Jordan, Edmiston Group served as financial advisor to PGA in the sale. The terms of transaction were not disclosed.
The three business-to-business titles acquired by Bill Communications, Inc. from Progressive Grocer Associates LLC are Progressive Grocer, the 76 year old leader in reporting on the supermarket industry; Frozen Food Age, the preeminent monthly publication serving the frozen food grocery segment for 46 years; and RT magazine, the foremost publication for the growing retail systems technology field. PGA is also managing a new retail technology conference this fall with shop.org called e-retailing '98.
Progressive Grocer Frozen Food Age (www.progressivegrocer.com)(www.frozenfoodage.com) Year Established 1922 1952 Frequency 12 times 12 times 1997 BPA Qualified Circulation 54,019 19,367 1997 Avg. Monthly Page Views 30,000 20,000 1997 Advertising Pages 989 470 RT magazine (www.retailtech.com) Year Established 1996 Frequency 12 times 1997 BPA Qualified Circulation 22,832 1997 Avg. Monthly Page Views 20,000 1997 Advertising Pages 257
"This transaction satisfied several agendas," said Wilma Jordan, chief executive officer of The Jordan, Edmiston Group. "Mason Slaine, PGA's principal shareholder wanted to align PGA's three titles with a new owner that would complement PGA's long history of leadership and innovation on behalf of the supermarket industry. VNU wanted to expand their global reach within the business media sector and the grocery and retail technology fields in particular."
The PGA acquisition further strengthens Bill Communications' market leadership in the grocery and food-related publishing segment and follows their purchase of three international food service publications from New Jersey-based Young/Conway Publications, Inc. earlier this year.
Bill Communications, Inc. is the leading business-to-business publisher and trade show producer serving the food services, sales and marketing, meetings and conventions, promotions and incentives, and training industries. Bill Communications parent company, VNU B.V., is a diversified Netherlands-based international publishing and information company, whose operations include consumer and business publications, newspapers, directories, business information services, and broadcasting and entertainment media.
The Jordan, Edmiston Group, Inc. is the leading investment bank specializing in the publishing, information and new media industries. The investment bank has completed more than 25 transactions in the past 12 months with an aggregate value exceeding $500 million. For more information on The Jordan, Edmiston Group visit its Web site at www.jegi.com.
CONTACT: The Jordan, Edmiston Group, New York Grant Draper 212-754-0710, ext. 302 or Kratz & Company, New York Michael Gormley 212-979-2700, ext. 257
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|Date:||Sep 2, 1998|
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