Information Resources, Inc. (IRI), the US-headquartered data analytics and market research company that works with the FMCG industry in the UK, has announced that it is merging with The NPD Group (NPD), a global provider of market information and advisory services in more than 20 industries, including general merchandise and foodservice.
The two firms noted that the combination will create a “leading global technology, analytics and data provider that offers clients a view of total retail purchasing and consumption trends”.
The transaction, which is subject to closing conditions, is expected to be completed in the second half of 2022. The terms of the deal were not disclosed.
Kirk Perry, President and CEO of IRI, commented: “This combination is a win for IRI, NPD, our clients and our teams as we bring together two industry leaders to offer a total store view. We look forward to joining forces with the NPD team, which brings expertise in parts of the store that IRI does not cover today.
“As the global retail landscape continues to evolve, IRI and NPD will have innovative technology, analytics, data resources, talent and geographic reach to best support the growth of the world’s leading brands and retailers.”
NPD CEO Karyn Schoenbart added: “We are excited about the prospect of combining our companies to give clients the tools and information they need to succeed amid changing consumer behaviour. Both NPD and IRI share similar client-focused, innovative and collaborative cultures, making this combination a natural fit.”
The deal will see H&F, a private equity firm, acquire a majority stake in IRI and merge IRI with H&F portfolio company NPD. H&F will lead an ownership group consisting of existing long-term IRI investors Vestar Capital Partners and New Mountain Capital, which will both retain significant investments in the combined company.
Perry will become CEO of the combined company, whilst NPD Executive Chairman Tod Johnson will be Chairman of the enlarged business. Schoenbart also will join the board.
