Emerald Holding buys cannabis events company MJBiz

emerald-holding-buys-cannabis-events-company-mjbiz

Trade show producer Emerald Holding Inc. EEX, +2.99% has completed a $120 million acquisition of cannabis events and media company MJBiz, the company said on Tuesday. MJBiz runs MJBizCon, a trade show in Las Vegas that drew 27,000 people in October. MJBiz generated $13.7 million in Ebitda and revenue of $27 million in 2021. It also owns media brands MJBizDaily, Hemp Industry Daily and MJBiz Magazine. Emerald Holding Inc. Emerald Holding, which is backed by institutional investor Onex Corp. ONEX, +1.46% that produces more than 140 annual events, matchmaking, and lead-gen services. Shares of Emerald Holding are down 19.6% in the last 12 months.

Source: Marketwatch

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