The deal, which is expected to be completed on 1 July, will see Montgomery Worldwide purchase Reed Exhibitions' share of Fresh RM, a joint venture between Montgomery and Reed that launched in 1999, for an undisclosed amount.
"We believe now is an appropriate time for the business to be managed under one owner and the sale of our shares to Montgomery allows continuity for the staff," said Reed Exhibitions chief executive Andrew Fowles.
Despite the imminent buyout Montgomery chairman Christopher Newton told Event Fresh RM has suffered the loss of one member of staff, with its offices continuing to operate out of Montgomery Worldwide in London.
In an exclusive chat with Event Newton also revealed Fresh RM's shows will not be affected and there will be future plans to launch new exhibitions.
Fresh RM’s portfolio of food and drink events includes Hotelympia, IFE, Pro2Pac, Speciality and Fine Food Fair, Speciality Chocolate Fair, Hospitaliy, Careers in Hospitality and ifeproductsearch.com.
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