What is in this article?:
- Penton Media Buys Farm Progress From Fairfax Media
- How Farm Progress fits into Penton
- PRODUCTS AND SERVICES
Acquisition creates largest, most diversified agriculture information business in North America, fits perfectly with Penton’s strategic growth agenda.
How Farm Progress fits into Penton
“We’ve always had tremendous respect and admiration for Farm Progress and its products. We also have a clear, strategic commitment to grow our agricultural information business, and Farm Progress perfectly supports that goal,” Kieselstein says.
“Farm Progress is a high-quality company – the team has delivered excellent organic revenue and EBITDA growth,” he continues. “Moreover, this business fits with Penton’s heightened focus on properties that have high levels of user engagement. The fact that Farm Progress events attract more than 200,000 attendees from across the agriculture community every year is a prime example of that value.”
The business case for combining Penton Agriculture and Farm Progressis compelling: the two companies have deep market and content expertise, but the agriculture sub-industries and geographies they serve have minimal overlap. Together, they represent a uniquely powerful strategic reach advantage for any agriculture marketer looking to maximize their business results.
Farm Progress will become part of the Penton Agricultural Group reporting to Penton Senior Vice President, Dan Bagan. Jeff Lapin, president of Farm Progress, will leave the company at the end of the year.
Farm Progress will remain headquartered in St. Charles, IL.
About Penton Media, Inc.
For millions of business owners and decision-makers, Penton makes the difference every day. We engage our professional users by providing actionable ideas and insights, data and workflow tools, community and networking, both in person and virtually, all with deep relevance to their specific industries. Then we activate this engagement by connecting users with tens of thousands of targeted providers of products and services to help drive business growth. Learn more about our company at www.penton.com.
Penton is a privately held company owned by MidOcean Partners and U.S. Equity Partners II, an investment fund sponsored by Wasserstein & Co., LP.