The two partners have formed William Reed Hospitality which will own two magazines - Restaurant and Hotel & Restaurant. It will also run The Restaurant Show, incorporating Restaurant Live, and The World’s 50 Best Restaurant Awards. The new company will be majority owned by William Reed Group, which publishes The Grocer.
Charles Reed, managing director of William Reed and the newly-formed William Reed Hospitality, said: “Our aim is to be market leader in all the sectors we serve. The new business will be the leading force in the fast-growing restaurant trade with a portfolio of market-leading products dedicated to serving the sector.”
He also said that the deal would reinforce William Reed’s position in the broader food and drink sector - where it also publishes leading magazines such as Morning Advertiser and Food Manufacture, as well as running a number of industry-leading exhibitions, conferences and awards ceremonies.