Groceryshop, Shoptalk Sell for $145M
The Shoptalk and Groceryshop conferences, which take place annually in Las Vegas, have been acquired by U.K.-based events company Hyve Group plc for $145 million. Anil D. Aggarwal and Simran Rekhi Aggarwal, founders of the conferences, have become major shareholders in the new owner.
"We're thrilled that Shoptalk and Groceryshop have become part of Hyve Group, a highly product-focused organization where our events can continue to advocate for and serve as important catalysts for the positive transformation of the retail, grocery and consumer packaged goods industries," said Anil D. Aggarwal.
"Shoptalk and Groceryshop are the perfect fit for Hyve, consistent with our goal to acquire product-led market-leading events in large industries that have achieved significant size, secured distinct customer bases and developed compelling value propositions, and that hold tremendous opportunities for organic growth and international rollouts," said Mark Shashoua, chief executive officer of Hyve. "These unmissable events share a common culture with Hyve and their acquisition delivers on our vision to create the world's leading portfolio of content-driven, must-attend events that provide outstanding experiences and return on investment for our customers."
Last year the two conferences had 11,500 combined attendees.