CHICAGO and PORT WASHINGTON, N.Y. — Retail sales data firm Information Resources Inc. (IRI) and The NPD Group, a provider of market information and advisory services, have signed a definitive agreement to merge their businesses. The combination will create a global technology, analytics and data provider that offers clients a view of retail purchasing and consumption trends.
The transaction, which is subject to customary closing conditions, is expected to close in the second half of 2022. The companies did not disclose the terms of the agreement.
NPD provides market information and advisory services for general merchandise, including softlines, technology and retail, as well as foodservice and food consumption. This will be combined with IRI’s market measurement, supply chain and media solutions, technology platform, retail relationships and data assets for the CPG industry, which encompasses the grocery, convenience and over-the-counter healthcare categories, the companies said.
“This combination [will] offer a total store view,” said Kirk Perry, president and CEO of IRI, Chicago. “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.”
Karyn Schoenbart, CEO of Port Washington, N.Y.-based NPD, said, “We are excited about the prospect of combining our companies to give clients the tools and information they need to succeed amid changing consumer behavior. Both NPD and IRI share similar client-focused, innovative and collaborative cultures, making this combination a natural fit.”
Hellman & Friedman LLC (H&F), a global private-equity firm, will acquire a majority stake in IRI and merge IRI with H&F portfolio company NPD. San Francisco-based H&F will lead an ownership group consisting of existing long-term IRI investors Vestar Capital Partners and New Mountain Capital. Both New York-based companies will retain significant investments in the combined entity.
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