Management buyout for BBC Haymarket Exhibitions
The management of BBC Haymarket Exhibitions led by current MD Laura Biggs has negotiated a buy out of the business, with the company set to change its name to River Street Events.
BBC Haymarket Exhibitions was a joint venture between Haymarket’s exhibitions division and BBC Worldwide, and staged some of the country’s leading consumer exhibitions, including the BBC Good Food Show and BBC Gardeners’ World Live.
The acquisition of BBC Haymarket Exhibitions has been funded by Laura Biggs, and outside investors Keith Harris and Paul Michael from Quartz along with Turret Media, an Abu Dhabi-based media investment group.
Kevin Costello, CEO of Haymarket Media Group, said: “We have long enjoyed a great partnership with BBC Worldwide running a very successful jointly owned exhibition business. As part of the ongoing Haymarket strategy, the time has come for Haymarket to focus on its solely owned brands.
“We are pleased that as part of this process, Laura Biggs, who has been MD of this business for the last eight years, is able to take over the running of this business and we wish Laura and the team every success for the future.
“We will continue to run our highly successful exhibition portfolio which includes market leading shows such as Autosport International, Clothes Show Live and Cereals.”
Nicholas Brett, BBC Worldwide’s director of publishing, added: "We are delighted that Laura and the senior management team will continue to run the BBC Good Food Shows and BBC Gardeners’ World Live. Laura has been working on the shows for over 12 years and understands the importance and heritage of these core BBC brands.
"Our relationship with Haymarket started more than 20 years ago. It has been a very successful joint venture from which both parties have enjoyed great benefits. But following a long-term review, we have jointly decided to part company to allow the BBC Good Food Shows and BBC Gardeners’ World Live to develop and prosper further under a new licensing arrangement."
Laura Biggs commented: “I am delighted that BBC Worldwide and Haymarket have given me and my fellow shareholders and directors the opportunity to be able take over the BBC Haymarket Exhibitions portfolio. I have a great passion for these shows and I very much look forward to continuing to be part of this fantastic business in the future.”