Market research firms The NPD Group and Information Resources, Inc. (IRI) have completed their merger, which was first announced in April. The combined company is now led by President and CEO Kirk Perry, and a unified name and brand will be announced at a later date.
According to the companies, the merger brings together colleagues across the globe to offer thousands of clients a comprehensive, accurate view of consumer behavior and total retail purchasing and consumption trends across many industries. As Progressive Grocer previously reported, the merged business will enable brands and retailers to collaborate, better service their customers, respond to trends and leverage stronger insights to spur growth.
NPD provides market information and advisory services for general merchandise, in addition to foodservice and food consumption. This will be combined with IRI’s market measurement, supply chain and media optimization solutions; technology platform; retail relationships; and data assets for the CPG industry, encompassing the grocery, convenience and over-the-counter health care categories.
"We are thrilled to merge our two great companies and create an even stronger organization together," said Perry. "Our combination sets a new standard, raising the bar for innovative technology, rich insights and data-driven advisory services across industries. As one company, our world-class team will offer a total store read and greater share of consumer wallets and stomachs. The possibilities for our clients, our people and our company are endless."
"Today marks an important milestone for our company and the industry,” said Tod Johnson, chairman of the board of directors. “Our combined company is best-positioned to support our wide variety of retailer and manufacturer clients around the world with comprehensive and powerful insights to help them navigate the continually evolving consumer landscape. We look forward to realizing the immense value this combination stands to create for our clients, employees and partners."
Global private equity firm H&F is now the majority investor in the combined company, and long-term IRI investors Vestar Capital Partners and New Mountain Capital (NMC) will retain their investments in the new company. The new executive leadership team will include senior leaders from both IRI and NPD and the combined board of directors will be led by chairman Tod Johnson and include Perry, former NPD CEO Karyn Schoenbart, former IRI chairman Jeff Ansell and representatives from H&F, Vestar and NMC.