Event organiser and trade magazine publisher William Reed has bought World Retail Congress (WRC) for an undisclosed sum.
William Reed also bought trade publication Retail Week, which was also owned by WRC parent Ascential.
Retail Week reported the news and cited William Reed CEO Charles Reed as saying: “We are delighted to welcome our new colleagues from Retail Week and WRC.”
He said WRC “has been shaping the future of retail since 2007 and complements our strategy of owning market-leading global brands”.
Meanwhile, he described Retail Week as “a very strong, well-established brand, with a combination of reader revenue, excellent events and a marketing solutions business that overall delivers great value to the retail community”.
William Reed’s portfolio of trade publications already includes The Grocer, Convenience Store, Forecourt Trader, British Baker, and Food Manufacture.
Hanna Jackson, the managing director of Hanna Jackson and Retail Week, described the acquisition as “the start of a great new chapter”.
She said: “William Reed’s market and core customer groups are closely aligned to ours and with the retail industry facing unprecedented change, this combination of two great businesses and their respective services and capabilities represents a really positive move for the sector as a whole.
“Retail Week and World Retail Congress is a great business, and William Reed is the best environment to provide the support and focus that the business needs.”
The next edition of WRC will take place from April 25 to 27.