MJBiz Acquired by Emerald Holding for $120 million

High Times

Denver-based MJBiz, well known for its online B2B news and business content, has been acquired by Emerald X. Emerald is a subsidiary of Emerald Holding, a media and event company based in New York, and acquired MJBiz for a total of $120 million. The acquisition includes MJBizCon, MJBizDaily, Hemp Industry Daily, MJBiz Magazine as well as The Emerald Conference, which MJBiz acquired back in 2020. According to Hervé Sedky, Emerald’s president and CEO, this acquisition will greatly benefit his company. “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.” MJBiz’s CEO Chris Walsh also shared that this move represents the cannabis industry’s growth. “This really highlights the rapidly growing interest in cannabis from all corners of the business world, the market’s vast potential and the success of not only MJBiz, but also of the entire industry,” Walsh said. “We’re seeing these types of deals across cannabis as pioneering companies such as ours level up to more effectively tap and foster the industry’s next wave of growth.” MJBizCon’s most recent event was held in October 19-22, 2021, and attracted approximately 27,000 attendees and 1,200 exhibitors at the Las Vegas Convention Center in Nevada. The event boasts that it’s one of the largest and long-lasting cannabis business events, and will be celebrating its 11th year of operation in 2022 with the expectation that attendance will reach up to 30,000. Tentatively, the event date is set November 15-18,…

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Source : MJBiz Acquired by Emerald Holding for 0 million

reposted by Cannabis News World

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