Diversified Communications has announced the sale of its Good Food and Wine Shows and Fitness and Health Expos.

International director, Matthew Pearce and finance director, Steve Malbourne have purchased the portfolio, stepping down to launch their new company, Talk2 Media and Events.

The product and support teams that serve this portfolio of events have all been offered roles with Talk2 Media and Events.

“This is an exciting and mutually beneficial business decision. We are pleased that our Australia division can now focus on our trade events, while knowing our consumer events are in the best of hands,” said Theodore Wirth, president and CEO of Diversified Communications.

“Diversified is proud of the business opportunities we give our employees. This, however, is the first time employees have launched a business through the acquisition of our products. We wish Matt and Steve and their staff great success as they continue to grow these exceptional consumer products,” said Wirth.

Diversified Communications Australia will now solely be led by general manager, David Longman and his leadership team. Longman was promoted to general manager in October of 2014 after 10 years with the company.