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ALEXANDRIA, Va., and WELSHPOOL, U.K. -- NACS, the Association for Convenience & Fuel Retailing and Insight Research have entered into an equity partnership for the annual Future of Convenience conference.
Under the agreement, NACS acquired a majority interest in the event, which will now be positioned under the NACS Europe portfolio. Insight Research will retain a substantial minority stake, and Insight Research Managing Director Dan Munford will remain a long-term partner.
NACS has served as a partner for the five-day conference for the past seven years. The 2013 Future of Convenience conference will take place in London next week. Considered Europe's most prestigious convenience-focused event, the Future of Convenience conference offers a combination of retail study tours and presentations, and attracts retailers and suppliers from more than 30 countries.
The new equity partnership will allow NACS and Insight Research to expand and further develop the Future of Convenience event to deliver enhanced thought leadership, best practices sharing and extensive commercial connections for European convenience retailers and suppliers, according to the announcement.
"Over the last decade, the Future of Convenience conference has grown from a one-day U.K.-centric convenience conference into a five-day international event featuring unrivaled store visit experiences, as well as the industry's most esteemed and recognized awards program," said Munford. "We have spent many years working with NACS and have the greatest respect for the crucial role they play in the U.S. and global convenience and fuel retailing industries. We share common values and ambition. I couldn't be more excited about this deal."
Insight Research is a United Kingdom-based strategy, publishing and events business that specializes in the international convenience and petroleum retail industry. It offers international retailers strategic advice in developing effective and profitable convenience retail concepts and new store formats, based upon international benchmarking. The company also publishes Global Convenience Store Focus, a monthly industry newsletter, and broadcasts television programs on the sector through its Retail Vision video platform.
"The new venture represents a tremendous opportunity to enhance NACS' global offer of knowledge, connections and advocacy to the European convenience and fuel retailing industries with Insight Research," said NACS President and CEO Henry Armour. "We could not have found a more talented and highly respected partner with whom to join forces in this endeavour than Dan Munford and Insight Research. We look forward to developing further programs and activities for the European convenience retailing market."