B2B publisher Mark Allen Group has acquired travel and aviation-focused Sixth Continent Holdings, including flagship title The Moodie Davitt Report, for an undisclosed sum.
As well as its publications, Sixth Continent Holdings runs three major industry events, including conferences and awards for the airport food and hospitality sector.
The Moodie Davitt Report was founded in 2002 and “covers all aspects of the global industry eco-system from travel retail to dining, advertising to foreign exchange, plus other airport commercial revenue streams” according to a Mark Allen Group release.
Sixth Continent’s original co-owners – founder and chairman Martin Moodie and president Dermott Davitt – will remain at the business alongside “their experienced senior management and high-quality teams across editorial, sales, events and administration”.
Mark Allen Group chief executive Ben Allen said: “We have in Martin and Dermot two superstars who care passionately about the business and who will stay with us to develop it even further.”
Mark Allen Group already publishes Ground Handling International and Aircraft Interiors International and says it “will be seeking synergies across the titles”. Sixth Continent is to be integrated into the business group in a new division named MA Travel Retail.
Mark Allen, the group’s executive chairman, said: “It is exceptionally rare to find such a brilliant business as this. Over recent years, the company has enjoyed exceptional growth.
“Extraordinarily, it even made a very good profit in 2020, the height of the pandemic, when other similar publishing and events businesses were floundering.”
Moodie said: “I have poured my heart and soul into this business over the past 22 years and I am thrilled that this agreement with another family company will both protect and grow that legacy. Together we will take the business to exciting new heights.”
Davitt added that with the Mark Allen Group’s support, “we aim to stretch our market leadership through our unrivalled industry relationships, our innovation drive and a relentless focus on delivering the highest-quality business intelligence and events to our loyal audience”.
In its most recent accounts, for the year to 31 March 2023, Mark Allen Group recorded profit before tax of £8.7m, down 7% year-on-year. Revenue increased 10%, partly driven by acquisitions that included net zero and energy management expo EMEX and Bonhill Group brands including Portfolio Adviser, Expert Investor and Fund Selector Asia.
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