Lebhar-Friedman Inc. has sold Nation’s Restaurant News to Penton Media
DeSilva+Phillips client Lebhar-Friedman, Inc. announced today that they have sold Nation’s Restaurant News (NRN), the number one publication serving the foodservice industry, to Penton Media, a leading, independent business-to-business media company.
“NRN is a property Penton has coveted owning for some time,” said Sharon Rowlands, CEO of Penton. “It is one of the most successful business-to-business media brands and enables us to launch a new and sizable Penton Restaurant Group which will also include Restaurant Hospitality and Food Management. Our Restaurant Group will have every single segment of food service covered – from full service to QSR, independents to chains, and commercial to noncommercial. We will be able to connect readers and marketers through print, online, events and research.”
Randall Friedman will join Penton and become the market leader of the Penton Restaurant Group. “I am very pleased to join Penton and work with the team to grow what is now the broadest and deepest media platform reaching restaurant operators in the U.S.,” said Friedman. “Being part of a larger company with the internal resources to handle our growth is critical to our future.”
NRN‘s readers are made up of the decision-makers in the foodservice industry, from operation managers to owners and senior management. In 2010, BtoB Magazine again named NRN to its elite BtoB Power 50. NRN is widely recognized as the number one publication in its space. The magazine’s circulation is over 60,000 with a full franchise of print, online and special events.
DeSilva+Phillips acted as financial advisor to Lebhar-Friedman in this transaction.
Lebhar-Friedman, Inc. has leveraged an 80-plus-year history of publishing excellence and is among the country’s leading B2B and healthcare media companies.Headquartered in New York City, with leading B2B titles such as Nation’s Restaurant News, Drug Store News and Chain Store Age, Lebhar-Friedman’s business units are dedicated to providing executives, professionals and clients with timely and relevant information online and in print. The Nation’s Restaurant News division is based in Lebhar-Friedman’s New York City office.
As a leading, independent, business-to-business media company, Penton knows business and how to create and disseminate the vital content that moves markets. Penton is where professionals turn to gain the critical insight, expert analysis, and relevant connections needed to compete and succeed. Headquartered in New York City, the privately held company is owned by MidOcean Partners and U.S. Equity Partners II, an investment fund sponsored by Wasserstein & Co., LP, and its co-investors. For additional information on the company and its businesses, visit www.penton.com.
|Transaction Type||M&A Sell-side|
|Client||Nation’s Restaurant News|
|Sold to||Penton Media|