GREATER TORONTO, May 1, 2014 /CNW/ - The Building Industry and Land Development Association (BILD) and Marketplace Events announced today that they have reached an agreement that would see BILD acquire 100 per cent ownership of the National Home Show, the Toronto Fall Home Show and the GTA Home Show.
The announcement marks the end of a long-standing, successful partnership.
As of May 30, BILD will be sole owner/operator of the GTA's leading home shows. Terms of the deal were not disclosed.
BILD is the voice of the land development, home-building and professional renovation industry in the GTA, representing the industry and consumers at all levels of government.
The agreement also provides for a transition period through the end of the year before BILD assumes full operational and management responsibility for the National Home Show and the Toronto Fall Home Show, held annually at the Direct Energy Centre, Exhibition Place, and the new GTA Home Show at the International Centre in Mississauga.
Marketplace Events will actively support BILD's full ownership and management throughout the transition period. The team running the shows will stay intact, as all key Marketplace Events employees have been offered commensurate positions with BILD, ensuring a seamless transition.
"This is a very exciting time for BILD," said BILD President and CEO Bryan Tuckey. "We have always believed that the annual home shows hold tremendous potential and our intent is to continue to ensure these events thrive.
"I want to sincerely thank Marketplace Events for their partnership and for helping build the home shows into what they have become today – a huge draw for the hundreds of thousands of showgoers seeking new trends and home remodelling ideas from the GTA's best experts."
"This acquisition provides an opportunity for BILD to expand our operations and build on our 93-year legacy," said BILD Chair Steve Upton. "We welcome these opportunities as we continue to make the National Home Show, the Toronto Fall Home Show and the GTA Home Show treasured events on the GTA calendar."
Tom Baugh, Marketplace Events CEO, said: "A 60-year partnership is a tremendous legacy that should be celebrated. Both parties anticipated the day would arrive when a single ownership structure would be in the best interest of the business, and that day is now. I have no doubt Bryan Tuckey and his team at BILD will do great things with the shows in the future."
Baugh emphasized the National Home Show's importance to the GTA. "I have often said that even though the shows have been co-owned by BILD and Marketplace Events, in spirit they have always belonged to the Toronto community. The National Home Show, in particular, is a civic treasure. I have no doubt, as sole owner, BILD will act as an excellent steward of the home shows."
Participation in the shows by exhibitors or sponsors does not change, as the shows will continue as they have in the past. Contracts already signed for the 2014 Toronto Fall Home Show and the 2015 National and GTA home shows remain valid.
The Building Industry and Land Development Association was formed through the merger of the Greater Toronto Home Builders' Association (GTHBA) and the Urban Development Institute/Ontario. BILD is the voice of the land development, home-building and professional renovation industry in the Greater GTA. BILD represents more than 1,400 member companies.
About Marketplace Events
Marketplace Events creates vibrant expositions connecting enthusiasts with experts, products and services in dynamic face-to-face environments. The company now produces 39 consumer shows in the home and garden category (28 in the US and 11 in Canada) as well as the American International Motorcycle Expo (AIMExpo), a new trade and consumer show for the motorcycle industry. AIMExpo is the first event to be produced by the company's new Trade Show Division. The 40 combined events attract 15,000 exhibitors, 1.5 million attendees and another 1.7 million unique web visitors annually. From 14 offices, the 110-person staff produces some of the most successful and longest-running shows in North America, including market-leading home shows in Montreal, Vancouver, Calgary, Washington, D.C., Orlando and Minneapolis–some of which have thrived in their markets for more than 75 years.
SOURCE: Building Industry and Land Development Association
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