Informa PLC (LSE:INF) has struck a deal to take over media group Winsight, marking the latest in a string of acquisitions aimed at boosting the publishing giant’s portfolio.
“Alongside technology, life sciences and aviation, this now adds food service to our roster of category-leading […] businesses,” chief executive Stephen A. Carter said.
Chicago-based food and beverages information services firm Winsight will be valued at US$380mln under the cash deal, Informa noted on Thursday, and will likely generate around US$100mln in revenue this year.
“This acquisition is fully funded by in-year cash flow growth and our balance sheet, and will further enhance revenues, margins, earnings and cash flow,” Carter added.
FTSE 100-listed Informa also bought international business-to-business exhibitions group Tarsus for US$940mln earlier in March, prompting shares to hit their highest level since early 2020.
Pre-tax returns should exceed Informa’s long-term weighted average cost of capital in the first year since the takeover, the company forecast, while also offering further opportunities for investment and “targeted expansion”.
Confirming the takeover of Tarsus had now been fully completed ahead of schedule, Informa said more information would be provided in an update on 15 June.