Penton Completes Acquisition of Nation's Restaurant News
(Press Release) NEW YORK, Dec. 13, 2010—Sharon Rowlands, CEO of Penton, announced today that the company has acquired Nation's Restaurant News (NRN) from Lebhar-Friedman. Terms of the deal were not disclosed.
"NRN is a property Penton has coveted owning for some time," said Rowlands. "It is one of the most successful business-to-business media brands and enables us to launch a new and sizable Penton Restaurant Group which will also include Restaurant Hospitality and Food Management. Our Restaurant Group will have every single segment of food service covered—from full service to QSR, independents to chains, and commercial to noncommercial. We will be able to connect readers and marketers through print, online, events and research."
NRN's readers are made up of the decision-makers in the foodservice industry, from operation managers to owners and senior management. In 2010, BtoB Magazine again named NRN to its elite BtoB Power 50.
Randall Friedman will join Penton and become the market leader of the Penton Restaurant Group. "I am very pleased to join Penton and work with the team to grow what is now the broadest and deepest media platform reaching restaurant operators in the U.S.," said Friedman. "Being part of a larger company with the internal resources to handle our growth is critical to our future."
He will report to Dan Bagan, senior vice president. "Having started my career at Lebhar-Friedman, I know NRN well and have long admired its strong connection in the food service community," said Bagan. "The power of these three titles together will be extraordinary. Not only can advertisers reach the entire market through our group, but the ability of the three to provide unique and deep solutions for operators and markets will be the game changer."
NRN is widely recognized as the number one publication in its space. The magazine's circulation is over 60,000 with a full franchise of print, online and special events.