Penton acquires Farm Progress from Fairfax

PentonPenton Media today acquired Farm Progress from Fairfax Media Limited of Sydney, Australia, significantly expanding its agriculture sector footprint to become the largest and most diversified agriculture information business in North America, offering live events, digital products, data, marketing services and publications. This acquisition directly supports a key Penton strategy of increasing investment in existing sectors that offer strong long-term growth potential, and it more than doubles Penton’s position in agriculture, which becomes the company’s largest sector group. The purchase price was $79.9 million before certain adjustments.

The acquisition boosts Penton’s US agriculture market coverage, connecting it to nearly 75% of the 2.2 million farms and ranches in the US and an estimated 85% of the nation’s annual agricultural gross domestic product.

Farm Progress features four of the industry’s leading farm trade events, including the nation’s largest outdoor farm show, a robust broadcast division, and many well-established media brands. They join Penton Agriculture’s portfolio of market-leading franchises.

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