Farm Journal Media and Vance Publishing Corporation announced they have reached an agreement for Farm Journal Media, Bobit Business Media and CCI Media to acquire the assets of Vance Publishing Corporation.
Under the agreement, Farm Journal purchases the agricultural properties while Bobit buys the beauty market products and CCI obtains Woodworking Network and related assets. The deal will be finalized this week.
Vance's agricultural portfolio includes 21 leading websites, online databases, publications and trade shows in the Produce, Livestock, Ag Retailer and Row Crop markets.
In announcing the acquisition, Andy Weber, CEO of Farm Journal, explained: "Vance is a perfect fit to add market-leading brands in important ag sectors that are new to us. By acquiring these top brands, we become market leaders in the important Produce sector, combine to become the leader in the Livestock sector and now have the leading voice to Ag Retailers, an area in which we have already heavily invested."
Weber went on to state, "The Vance portfolio complements our existing No. 1 media position in the large row crop market, and we're honored to bring the Vance brands into the Farm Journal family."
Bobit Business Media, based in Torrance, Calif., adds Vance's Salon and Modern Salon titles to its existing beauty market business that includes award-winning NAILS magazine.
Ty Bobit, CEO of Bobit, commented: "With the purchase of the Modern Salon Media Group, Bobit Business Media becomes the leading professional beauty media company in the U.S., with unmatched reach across print, e-media and social media. In addition, Modern Salon greatly expands our custom media footprint by bringing custom print and digital products created for some of the salon industry's biggest players. I could not be more thrilled about this acquisition."
CCI Media of Cedar Rapids, Iowa, adds Vance's Woodworking Network and related events to its woodworking industry properties. Tim Fixmer, Publisher/CEO for CCI, stated: "Vance has a rich history of serving the needs of industrial woodworkers with high-quality products and services.
"In the past few years, The Woodworking Network's growth has focused primarily on the digital arena and events, while at the same time CCI Media has focused on catering to reader requests, delivering the medium they request, and becoming the dominant print brand in the process.
Because we have grown in different directions, the combination of these media offerings is an ideal fit and will provide industrial woodworkers with a rich variety of media products from which to derive essential business information. CCI Media is excited to provide a home to the Vance woodworking brands and to the media professionals who produce them."
William C. Vance, Chairman and CEO of Vance Publishing Corporation, added: "I have known the Farm Journal Media, Bobit Business Media and CCI Media organizations for years. I am gratified the products and services we have worked so hard to build here at Vance have found new homes with companies that share our values and commitment to quality. Our employees and customers are in good hands."