New York—VNU Business Media, a division of VNU, announced Tuesday the sale of Restaurant Business, FoodService Director, Beverage World and Retail Merchandiser magazines and the ID Access Web site to Ideal Media, a division of Chicago-based Schofield Media.
Financial terms of the deal were not disclosed.
The acquisition boosts Schofield’s position in the food, beverage and retail markets.
"Although they were no longer a strategic fit with our broader portfolio, the titles remain highly regarded authorities in the food service and mass market retail sectors, and we are confident that they will continue to uphold their high standards under Schofield’s leadership," Michael Marchesano, president-CEO of VNU Business Media, said in a statement.
Media investment bank Jordan, Edmiston Group represented VNU Business Media in the deal.