London—UBM has acquired a 70% equity stake in the Catersource catering conference and exhibition and its sibling show, Event Solutions, which serves the event planning industry. UBM paid $5 million in cash for its majority share.
Catersource generated about $4 million in revenue last year. It will become part of UBM Live. UBM already owns a number of events in the food and leisure industries, including Confex, Cruise Shipping, Food Ingredients, Health Ingredients and Leisure Industry Week.