Emerald has acquired MJBiz, a B2B event and content platform for the cannabis industry. MJBiz was founded in 2011 and produces MJBizCon, the oldest B2B cannabis trade show in America, and related media brands including MJBizDaily, Hemp Industry Daily and MJBiz Magazine.
MJBizCon has featured more than 1,200 exhibiting companies and 27,000 attendees, including over 18,000 paid registrations at the October 2021 event, almost reaching pre-pandemic levels. In 2021, MJBiz's revenues were approximately $27 million, which were near pre-pandemic levels. Emerald paid $120 million as initial consideration upon closing of the transaction, with potential future payments contingent on the performance of MJBiz through 2022.
„Their 365-day engagement platform will diversify our collective product offerings.“
Hervé Sedky, Emerald's president and CEO, said, "We have long admired MJBiz's sterling reputation for being the most trusted event and content producer serving the business side of the cannabis and hemp industries and their respective participants. MJBiz's leading event and content portfolio coupled with their 365-day engagement platform, which connects the entire cannabis supply chain, will diversify our collective product offerings, enhance our growth profile and enable us to deliver even greater value to our customers over the long term." The MJBiz management, including CEO Chris Walsh, senior vice president of Events and Sales Jess Tyler, and senior vice president of Content and Audience Development Pam Moore, will continue to lead the day-to-day operations of the business.
Upcoming events include the Emerald Conference scheduled to take place from February 27 to March 1, 2022 in San Diego, CA, at the Loews Coronado Bay Resort, and MJBizCon from November 15 to 18, 2022 in Las Vegas, NV, at the Las Vegas Convention Center.mjbizconference.com