Diversified Communications, a leading exhibition and conferences company with media roots, announced that the company has purchased The Running Event and complementary digital magazine, Running Insight, from Formula 4 Media LLC.
The Running Event is an exhibition and conference that serves the growing running and fitness market in the U.S. The sale also includes the launch of the 50 Best Running Stores in America, an awards celebration recognizing outstanding retailers in the industry, which was held June 21-23 in Minneapolis, MN alongside the Fleet Feet Annual Franchise Conference.
“In addition to expanding our U.S. event portfolio through launches, we have been actively seeking acquisition opportunities within this tight U.S. market,” said Theodore Wirth, president and CEO of Diversified. “We were very excited when the owners of Formula 4 Media were open to our initial inquiry and we are now very pleased to be working with them through the 2018 event to ensure a smooth transition.”
The Running Event will mark Diversified Communications’ first property in the active space.
The Running Event portfolio will be managed by Diversified Communications’ EVP, Bill Springer, and will operate out of Diversified’s headquarters located in Portland, ME. Diversified has hired the show’s event manager, Christina Henderson, and she and Springer will work with Mark Sullivan and Troy Leonard, two of the current owners, as consultants through the 2018 event.
Springer said, “With Christina’s talent on board, Mark and Troy’s consultancy and our extensive event experience and infrastructure we are looking forward to furthering the event’s mission to support this growing market and more specifically to help the running store owners and executives adapt to changing consumer behavior and continue to increase their profitability.”
“Diversified Communications is the perfect company to help grow and insure the long term success of The Running Event,” said Sullivan. “They have great resources and people and understand the important role the event plays in the running community. The Running Event is in great hands with Diversified.”
Formula 4 Media, LLC launched The Running Event in 2006. It is now the leading event in the industry, hosting 255 exhibitors and over 2,500 total attendees in 2017.
Diversified Communications will produce the 13th edition, which will be held November 27-30, 2018 in Austin, TX. The four-day event is comprised of two days of conference sessions, two days of exhibitions, an opening reception, an awards banquet, retail/vendor arranged meetings, a 5K race for retailers and several networking opportunities throughout the event. The Running Insight digital magazine provides year-round content and marketing opportunities for running specialty and multi-sport retailers. It features new products, trends and analysis, brand updates, retail profiles and key developments in the market for its 2,500 subscribers.
Formula 4 Media, LLC was represented by John McGovern of Grimes, McGovern & Associates.
Established in 1949 with headquarters in Portland, ME, and divisions and offices around the world, Diversified Communications remains a privately held, third generation, family-owned business. The company is a leading organizer of conferences, trade shows and online media Industries the company. These include Architecture & Design, Building & Construction, Commercial Marine, Floriculture, Food & Beverage, Natural & Organic, Oil & Gas, Technology, Travel & Transportation and Waste & Recycling.
The company’s media properties include Tourism & Travel Magazine, Mini Plus, National Fisherman, Natural Beauty News, Natural Products, Route One, Work Boat, Accountex Network, SeafoodSource News, Primed, Sits Insight and Spar3D.
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