Penton Adds to Lifestyle, Food Portfolio with World Tea Media
October 3, 2015
Penton added to its robust lifestyle and food portfolio with the acquisition of World Tea Media, an event and digital information company for the global tea industry, from F+W, a Content + eCommerce company.
World Tea Media includes the flagship show for the tea industry – World Tea Expo.
World Tea Expo will be led by Fred Linder, group president, Penton, who will continue to lead Penton's New Hope business as well as Penton Exhibition Services.
"An essential element of our strategy is to focus on high-growth sectors and extend leadership positions. World Tea Media is at the forefront of the United States tea industry and is poised to double its size over the next five years,” Linder said.
He added, “This portfolio of events and digital products perfectly complements our assets. We have the ability to nurture and grow entrepreneurial businesses through our understanding of consumer behavior, product innovation, future trends and exceptional relationships.
The tea expo complements Penton’s other shows, including Natural Products Expos East and West, both of which had grown in leaps and bounds.
Penton has created a formula to nurture and grow innovative entrepreneurial businesses in emerging markets into large retailers with mass distribution.
Penton also has the ability to tap into large food manufacturers through its leading food brands -- Multi-Unit Food Service Operators Conference (MUFSO), Nation's Restaurant News (NRN) and Supermarket News.
Penton will combine its knowledge from both the natural products and food marketplaces to accelerate the growth of tea and beverage companies.
World Tea Expo brings together buyers with purchasing influence, including grocery chains, mass merchandisers, independent retailers, tea shops and coffee houses from the United States, as well as 46 countries around the world and World Tea Academy (WTA), the leading online tea education and certification program.
They also produce World Tea News, the premier news portal for the tea industry and the North American Tea Championship (NATC), the only independent and professionally judged tea competition in North America.
"We're excited to work with the team at World Tea Media to further extend their value as an information resource for the global tea industry, with an emphasis on the growing specialty, premium tea and healthy beverage segments,” Linder said.
World Tea Expo was founded by George Jage, who sold it to F+W Media in 2012.
Partner Voices
MGM Resorts is committed to fostering an inclusive and diverse culture, not just among employees and guests but also within its supply chain. The company prioritizes procuring goods and services from businesses owned by minorities, women, veterans, people with disabilities, LGBTQ individuals and those facing economic disadvantages. This commitment is integral to MGM Resorts' global procurement strategy.
Through its voluntary supplier diversity program, MGM Resorts actively identifies and connects certified diverse-owned suppliers to opportunities within its supply chain. The company is on track to spend at least 15% of its biddable procurement with diverse-owned businesses by 2025, demonstrating that supplier diversity is not only a social responsibility but also a strategic business imperative.
Supplier diversity isn’t just the right thing to do – it’s good for business. A diverse supply chain allows access to a broader range of perspectives and experience, helping to drive innovation, entrepreneurship and resilience, while strengthening communities. At MGM Resorts, engaging diverse suppliers ensures best-in-class experiences for guests and clients. Supplier diversity ensures a more resilient supply chain while supporting economic development in the communities in which it operates.
The impact of MGM Resorts' supplier diversity initiatives is significant. In 2023, these efforts supported over 3,500 jobs across more than 30 states, contributed over $214 million in income for diverse-owned businesses and generated more than $62 million in tax revenue. The story extends beyond the numbers – it reflects the tangible benefits brought to small and diverse-owned businesses, fostering economic empowerment in their communities.
MGM Resorts also supports the development and business skills of diverse-owned businesses through investment, mentorship and education. Through the MGM Resorts Supplier Diversity Mentorship Program, the company identifies, mentors and develops diverse-owned businesses to fill its future pipeline, while providing businesses with tools and resources to empower and uplift. Since 2017, the program has successfully graduated 105 diverse-owned businesses and is on track to achieve its goal of 150 graduates by 2025.
MGM Resorts’ commitment to supplier diversity not only enhances its business operations but also plays a crucial role in uplifting communities and fostering economic development. This approach reinforces the idea that diversity is a powerful driver of innovation and resilience, benefiting both the company and the wider community.
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