Cygnus Ag Shows Go to American Farm Bureau
An official announcement is expected on Monday.
Cygnus announced in February that the group was for sale.
The sale includes a collection of four agriculture events in a group called IDEAg: Dakotafest, the Amarillo Farm & Ranch Show, the Northern Illinois Farm Show, Farmfest and the Interconnectivity Conference. Two publications associated with the group—Feed & Grain and Farm Forum—are also included in the deal.
Sources say all 12 staff members in the group will remain in place and the events group will continue to be led by Senior Director Ray Bianchi.
Terms have not been released. Corporate Solutions, an acquisitions advisory firm, arranged the sale.
Cygnus Business Media CEO John French told Expo’s sister publication, Folio, earlier in the year that the decision to put the agriculture group on the market was easy because it is not core to the company’s affinity group structure.
“We don’t have anything else around it,” French said in February. At the same time, he said, “We’re going for a good market price and, if we don’t get it, then we’re not selling and it’s business as usual.”