Bonnier Corp. has acquired Indianapolis-based The Promotion Company Inc. & Family Events. The deal gives Bonnier a full-service event production company that specializes in enthusiast market events.
For a company like Bonnier, which publishes brands such as Field & Stream, Cycle World and Outdoor Life, events are becoming a lucrative platform that attract the most loyal participants.
The deal was done in stock and terms were not released. The company will remain intact, with sponsors, exhibitors and other stakeholders remaining in place through the 2015 show season. The Promotion Company founder Bruce Hubley will transition to Bonnier’s events division.
Bonnier had already been using The Promotion Company to produce the Hot Bike Tour in 2013, says Matt Hickman, Bonnier Corp.’s vice president of brand strategies. "After a second successful tour in 2014, we’re looking forward to a full integration of our events and motorcycle brand groups to offer our partners additional opportunities in 2015."
Hickman declined to disclose revenue figures for The Promotion Company, citing private company status, but said immediate plans include expanding events into the outdoor, motorcycle and Active Interest Network groups. "The opportunities to connect our marketing partners with high-value enthusiasts are endless," he says. "We’ll be taking a customer-focused approach to determining what brands are primed for channel strategy expansion into events."
The deal also provides Bonnier with scale, adds Hickman, noting that custom events for key marketing partners will be another focus.