Tarsus Group PLC Corporate Activity (1316X)
January 08 2014 - 2:01AM
UK Regulatory
TIDMTRS
RNS Number : 1316X
Tarsus Group PLC
08 January 2014
8 January 2014
Tarsus Group plc
Corporate Activity
Tarsus Group (LSE: TR, "Tarsus" or the "Group"), the
international business-to-business media group, has further
strengthened its portfolio through acquisitions in China and Turkey
and has also agreed to dispose of up to 18% of the Group's French
business.
China - SIUF acquisition
The Group has agreed to acquire 50% of the China (Shenzhen)
International Brand Underwear Fair ("SIUF") from Mr Zhang Fengwei
and associates (the "Vendor"). SIUF was launched in 2006 and has
become a leading show in the Asian Pacific market for underwear
garments. It is an annual event, held in May at the Shenzhen
Exhibition and Conference Centre in Southern China. The show
comprised 15,900 square metres (net) of space in 2013 and Tarsus
expects it to continue its track record of growth in 2014.
The global underwear market is currently valued at approximately
$30 billion. The Chinese market was valued at approximately $10
billion in 2010 and is the fastest growing market globally,
supported by a strong domestic manufacturing and retail base.
To date, SIUF's core business has focused on domestic brands and
going forward, utilising Tarsus' international knowledge and
skills, will seek to internationalise the exhibitor range as well
as launch a new sourcing event for lingerie manufacturers. The
Vendor will continue to manage the business post acquisition.
Tarsus believes that SIUF will provide synergies with its
Tarsus' Off-Price business where lingerie is one of the largest
categories within the events.
The consideration will be met from Tarsus' existing cash
resources and bank debt facilities. The acquisition is conditional
on Chinese regulatory approvals and is expected to complete in the
next few months.
Turkey - IFO minority interest acquisition
The Group acquired the outstanding 25% of the issued share
capital of Istanbul based IFO not already owned by Tarsus in
December 2013 from Mr Selahattin Durak, who will become an advisor
to the Group. The Group purchased the initial 75% in June 2011.
IFO is one of the leading exhibition businesses in Turkey whose
three events are Asansor (Lifts), REW Istanbul (Recycling and Waste
Management) and Sign Istanbul (Outdoor Advertising and Visual
Communications). IFO has shown strong growth under Tarsus'
ownership and the acquisition will further consolidate Tarsus'
position in the fast-growing Turkish market. The consideration will
be met from Tarsus' existing cash resources and bank debt
facilities.
France
The Group has agreed to sell up to 18% of its French business to
Romuald Gadrat, the incumbent Managing Director of the division,
who will continue to run the business going forward. This is in
line with the Group's strategy of reducing its exposure to
France.
Douglas Emslie, Tarsus Group Managing Director, said:
"These transactions are another key step in the execution of our
"Quickening the Pace" strategy.
"We are delighted to add SIUF, a market leading exhibition to
our portfolio. China is an important market for us and this
acquisition fits with our "Quickening the Pace" strategy as well as
providing synergies with our Off-Price shows in the US. This
acquisition will consolidate our position in this fast growth
market.
"IFO was Tarsus's first purchase in Turkey and we have been very
pleased with its performance since then, so we are delighted to
acquire the remaining 25% stake in the business."
For further information contact:
Tarsus Group plc
Douglas Emslie, Group Managing Director 020 8846 2700
Dan O'Brien, Group Finance Director
College Hill
Kay Larsen/Adrian Duffield 020 7457 2020
Notes to Editors
Tarsus Group plc (LSE:TRS) is an international
business-to-business media group with interests in exhibitions,
publishing and online media. The Group operates globally in key
verticals including aviation, medical, labels and packaging,
discount clothing (Off-Price), housewares and automotive. Tarsus
runs more than 80 events and websites and its flagship brands
include the Labelexpo exhibitions in Europe, the Americas, India
and Asia and the Dubai Airshow.
The Group operates across a worldwide network of offices in
Dublin, London, Paris, Milwaukee, Boca Raton (Florida), Dubai,
Shanghai, Jakarta, New Delhi and Istanbul. Tarsus is building on
its strong presence in the emerging markets of the Middle East,
China, Turkey, India, Indonesia and South America.
www.tarsus.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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