CHICAGO — Information announced on May 18 that it had entered into an agreement to acquire Winsight for an initial enterprise value of $380 million, payable in cash. The deal includes Winsight’s research and data arm, Technomic, and the iconic National Restaurant Association Show, as well as its extensive B2B media portfolio. Winsight CEO Mike Wood will continue to lead the business, which will be part of the Informa Connect division.
Stephen A. Carter, Group Chief Executive Officer, Informa, said: “Following the acquisition of Tarsus, we are delighted to further expand our B2B portfolio with the addition of Winsight. Alongside the technology, life sciences and aviation sectors, this now adds catering to our list of category-leading B2B businesses with scale, international reach and an increasingly diverse service offering, spanning live and on-demand events, specialist data/research, specialist media and associated B2B digital services.”
Informa Connect currently owns and operates Catersource, the leading live B2B event for the restaurant industry in the United States. Its portfolio of media brands specializing in the foodservice media brand vertical includes Nation’s Restaurant News, Restaurant Hospitality, Food Management and Supermarket News.
“At Informa, our goal is to champion the specialist. This new combination of Informa’s existing restaurant assets with Winsight’s exceptional media, events and data assets provides the opportunity to create even more market-leading products and services that will better meet the needs of the restaurant industry and its customers. We are very excited to bring together such respected, market-leading brands and the talented teams that support them, to facilitate the creation of even greater customer value and exciting new growth opportunities for all,” said Andrew Mullins, CEO of Informa Connect.
The restaurant market is poised to rebound from the pandemic. The National Restaurant Association (NRA) is projecting $997 billion in restaurant revenue in 2023. That rebound translated into a robust post-lockdown NRA show in 2022, which spanned 595,375 square feet and hosted more than 50,000 attendees and over 1,800 exhibiting companies, according to Trade Show Executive.
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“Our rapid return to pre-pandemic performance levels is a testament to the core strengths of our products and services, as well as the caliber of our people,” said Wood. “We are excited to continue this momentum as part of Informa, whose global reach, existing market presence and growth-focused philosophy will only enable us to do more and better for our clients.”
Early registration numbers indicate that the National Restaurant Association Show is on pace for a 15% increase in attendance and a remarkable increase of more than 659,000 NSFs for the 2023 show, which will take place May 20-23 at Chicago’s McCormick Place. In fact, this year’s show will feature 2,100 manufacturers and suppliers showcasing their products and services. Eight hundred of them are new to the show, a 61% increase over the 2022 total of new exhibitors.
The show has a long history of success and has won numerous accolades. In 2018, it won multiple TSE Grand Award categories at Trade Show Executive’s Gold 100 Awards & Summit, taking home the coveted awards for Best Trade Show of the Year, Most Innovative Show and Most Impressive Sponsorship Sales Increase. The show has appeared in the TSE Gold 100 rankings 13 times.
“Each year, the National Restaurant Association Show becomes the epicenter of the restaurant world, attracting the brightest minds and boldest ideas,” said Tom Cindric, President of Winsight Exhibitions. “From the dynamic show floor to the engaging speakers and groundbreaking FABI and KI Awards, to the immersive chef and beverage demos, this year’s show promises an unparalleled experience that will ignite passion, foster collaboration and propel our industry forward.”
Now poised for further growth under the Informa Connect banner, the show could see international expansion on the horizon. Cindric served as vice president of World of Concrete at Hanley Wood before it was acquired by Informa in 2014 for a whopping $375 million. Under Cindric’s leadership at Hanley Wood/Informa, World of Concrete expanded into Mexico and India, and has entered into international collaborations in countries such as Brazil, China and France.
Contact Tom Cindric at tcindric@winsightmedia.com