Penton Media Completes Acquisition of New Hope Communications
Posted on May 28, 1999Penton Media, Inc. has announced the close of its acquisition of Boulder, Colorado-based New Hope Communications, Inc., a leading business media company serving the natural products industry. New Hope's core products include Natural Products Expo East and Natural Products Expo West; five magazines, including Natural Foods Merchandiser, the leading magazine serving the natural foods/health foods and organic foods market; and the Healthwell website.
"The acquisition of New Hope Communications is another example of the execution of Penton's strategy to acquire leading business media companies in growth markets," said Thomas L. Kemp, chief executive officer of Penton Media. "It also reinforces Penton's strategies to diversify our market positions and revenue streams," said Kemp, noting that New Hope has an attractive diversity of revenues from trade shows, conferences, magazines and its website.
New Hope will operate from Boulder as a division of Penton under the name New Hope Natural Media. Doug Greene, founder of New Hope Communications, is non-executive chairman of the division and will hold a seat on Penton's Board. Richard Prill, president, Kim K. Paulsen, president of publishing, and Katherine M. Lawrence, president of trade shows and conferences, continue in their current positions.