GL events is expanding its reach in China: The company has acquired a 65% stake in the organiser of Harbin Seed Expo, China's leading exhibition for seeds and growing and seeding equipment. As GL events states, the historic shareholders retain 35% of the share capital and will support the future business plan.
„In China, we are developing a new vertical offering for the group.“
Olivier Ginon, chairman-CEO of GL events, commented: "In China, we are continuing our development by integrating an exhibition developing a new vertical offering for the Group: seeds and seeding equipment. This sector offers prospects for sustained growth and a profound transformation to a sustainable and quality-based model. Our teams will accordingly focus on the integration and continuing development of this sector."
The company acquired currently operates three exhibitions, the main event in Harbin (city of more than 10 million inhabitants in northern China) with more than 1,000 exhibitors each year (gross floor space of 50,000 sqm), with spinoff exhibitions in the cities of Chengdu (Sichuan region) and Nanjing (capital of Jiangsu province) and plans for other regions. The company employs 23 people and has annual revenue of approximately €3 million with an operating margin of 40%.www.gl-events.com