Vance Publishing sells assets to three companies
Vance Publishing Corp., a private, family-owned media company in Lincolnshire catering primarily to the agriculture, beauty and woodworking industries, announced it is selling its publication portfolio to three media groups.
Under the agreement, Lafayette, Indiana-based Farm Journal Media will purchases Vance's agricultural publications. Bobit Business Media of Torrence, California, will buy the beauty market products and CCI Media of Cedar Rapids, Iowa, will obtain Woodworking Network and related assets. The deal will be finalized this week.
Financial terms of the purchase were not disclosed.
Vance Publishing was founded in Chicago in 1937 by Herbert A. Vance and has its roots in business-to-business magazine publishing. The company diversified over the years into a multimedia enterprise encompassing publications, digital products, events, and database products and services. The company was a frequent recipient of awards and recognition for superior products, industry knowledge and service to its markets.
In 1970, William C. Vance, the son of the founder, joined the company and has served as its chairman and CEO for more than
"I have known the Farm Journal Media, Bobit Business Media and CCI Media organizations for years. I am gratified the products and services we have worked so hard to build here at Vance have found new homes with companies that share our values and commitment to quality," Vance said. "Our employees and customers are in good hands."
Vance's agricultural portfolio includes 21 leading websites, online databases, publications and trade shows in the produce, livestock, ag retailer and row crop markets.
Farm Journal CEO Andy Weber said the acquisition was "a perfect fit to add market-leading brands in important ag sectors that are new to us.
Bobit Business Media adds Vance's Salon and Modern Salon titles to its existing beauty market business that includes award-winning NAILS magazine.
CCI Media adds Vance's Woodworking Network and related events to its woodworking industry properties.