MCH Group acquires Masterpiece London
today Dec 4, 2017
MCH Group, which owns exhibitions such as Art Basel and Baselworld, is looking to gain a foothold in the UK and expand its international portfolio as it announces the acquisition of art show Masterpiece London.
Organising a collector’s event at the Royal Hospital Chelsea in London each summer, Masterpiece London is a highly regarded show attracting 150 leading galleries and specialists every year, who present ancient and contemporary art, rare books, antiques, jewellery and more.
To integrate the event to its portfolio, MCH purchased 67.5% of its shares for an undisclosed sum on 30 November. The remaining 32.5% of the shares will be held by the current shareholders.
The acquisition gives MCH Group an even stronger position in the key global collectors’ market, expanding an events portfolio that already includes Art Basel (in Basel, Miami Beach and Hong Kong), the Design & Regional Art Fairs and Grand Basel, which will be held in 2018 for the first time.
Following the integration, the group will realign its organisational structure with Baselworld, Art Basel, Design & Regional Art Fairs, Grand Basel and Masterpiece London being grouped together in the Global Events divisions.
Meanwhile, the group’s events in its home country will form the new "Events Switzerland & Venues" division.
Additionally, the company announced the departures of CFO Christophe Biollaz and Managing Director of Design & Regional Art Fairs, Marco Fazzone. Both senior executives will be leaving the company to pursue other interests, with Fazzone departing at the end of January 2018 and Biollaz after a successor has been appointed.
Copyright © 2019 FashionNetwork.com All rights reserved.