Press release: Diversified Communications announced today its first U.S. acquisition of 2018. Diversified has purchased The Running Event and its complementary digital magazine, Running Insight from Formula 4 Media, LLC. The Running Event is an exhibition and conference that serves the growing running and fitness market in the U.S. The sale also includes the launch of the 50 Best Running Stores in America, an awards celebration recognizing outstanding retailers in the industry which will be held June 21-23 in Minneapolis, MN alongside the Fleet Feet Annual Franchise Conference.
“In addition to expanding our U.S. event portfolio through launches we have been actively seeking acquisition opportunities within this tight U.S. market,” says Theodore Wirth, president and CEO of Diversified. “We were very excited when the owners of Formula 4 Media were open to our initial inquiry and we are now very pleased to be working with them through the 2018 event to ensure a smooth transition.”
The Running Event portfolio will be managed by Executive Vice President, Bill Springer and will operate out of Diversified’s headquarters located in Portland, Maine. Diversified has hired the show’s Event Manager, Christina Henderson and she and Mr. Springer will work with Mark Sullivan and Troy Leonard, two of the current owners, as consultants through the 2018 event.
Springer said, “With Christina’s talent on board, Mark and Troy’s consultancy and our extensive event experience and infrastructure we are looking forward to furthering the event’s mission to support this growing market and more specifically to help the running store owners and executives adapt to changing consumer behavior and continue to increase their profitability.”
“Diversified Communications is the perfect company to help grow and insure the long term success of The Running Event,” said Sullivan. “They have great resources and people and understand the important role the event plays in the running community. The Running Event is in great hands with Diversified.”
Formula 4 Media, LLC launched The Running Event in 2006. It is now the leading event in the industry hosting 255 exhibitors and over 2,500 total attendees in 2017. Diversified Communications will produce the 13th edition which will be held November 27-30, 2018 in Austin, Texas. The four day event is comprised of two days of conference sessions, two days of exhibitions, an opening reception, an awards banquet, retail/vendor arranged meetings, a competitive 5K race for retailers, and several networking opportunities throughout the event. The Running Insight digital magazine provides the necessary year round content and marketing opportunities for running specialty and multi-sport retailers. It features new products, trends and analysis, brand updates, retail profiles and key developments in the market for its 2,500 subscribers.
Diversified Communications continues to seek opportunities for acquisitions and partnerships to expand to serve new markets and support the needs of the markets they currently serve.
Formula 4 Media, LLC was represented by John McGovern of Grimes, McGovern & Associates.
Diversified Communications is a leading international media company with a portfolio of face-to-face exhibitions and conferences, online communities and digital and print publications. As producers of these market-leading products Diversified Communications connects, educates and strengthens business communities in over 14 industries including: food and beverage, healthcare, natural and organic, business management and technology. Established in 1949 and headquartered in Portland, Maine, USA with divisions and offices around the world, Diversified Communications remains a privately held, third generation, family-owned business. For more information visit: www.divcom.com