Events. GL Events, of France, has agreed to acquire 60% of Interwine, the organising company of the Chinese international wine and spirits exhibition, whose managers will retain a 40% shareholding. The €7m-revenue Interwine is held twice annually, in Guangzhou, and has an operating profit margin of 35%. The deal follows GL’s acquisition of majority stakes in CIEC Union, (a Beijing-based exhibition specialist in construction and decoration), and in the Fashion Source textile exhibitions in Shenzhen. It also operates food exhibitions in China.
Established in 1978, GL is one of the world’s 20 largest exhibition organisers (source: AMR), operating 300 trade shows, principally in food, agribusiness, culture, textile/fashion and manufacturing. It also manages a network of 45 venues (convention centres, exhibition centres, and concert halls) across 10 countries, and supplies temporary structures, marquees, spectator seating, and event infrastructure. The company, which is listed on the Paris Stock Exchange, had 2018 revenue of €1bn.