Merchandise Mart Properties Inc. continues to expand rapidly in the art exposition business, acquiring an international contemporary art fair in Toronto even as it prepares for an expanded Art Chicago this spring.

The Chicago-based Mart is to announce Monday that it has bought, for an undisclosed sum, the Toronto International Art Fair, a contemporary art exposition founded in 2007 and held each October. That fair, which had been owned by Universal Fine Arts Expositions Inc. of British Columbia, last fall drew 110 exhibitors and about 18,000 visitors.

Since it entered the international contemporary fair business with the purchase of Art Chicago in spring 2006, the Mart has acquired the Armory Show in New York City and the Volta Show of New York and Basel, Switzerland.

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Posted: 01|15|08 at 4:14 pm. Filed under: News.