Data & Analytics Providers IRI & NPD Announce Merger
The combined company will offer a view of total retail purchasing and consumption trends powered by advanced, predictive analytics.
CHICAGO and PORT WASHINGTON, N.Y. — Information Resources Inc. (IRI), a global leader in innovative solutions and services for consumer, retail and media companies, and The NPD Group, a global provider of market information and advisory services to more than 20 industries, have signed a definitive merger agreement.
The combined company will be a leading global technology, analytics and data provider that will offer clients a view of total retail purchasing and consumption trends, powered by advanced, predictive analytics on the industry-leading IRI Liquid Data technology platform.
The transaction is expected to close during the second half of 2022, subject to customary closing conditions. Terms of the deal were not disclosed.
"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," said Kirk Perry, president and CEO of IRI.
"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," Perry continued. "Our combined organization will be well-positioned for continued innovation and success, backed by the expertise and resources of our new majority investor, Hellman & Friedman, alongside our long-term partners at Vestar Capital and New Mountain Capital."
By bringing together complementary leading data assets across a broad range of industries on the most innovative, sophisticated data visualization platform, the combined business will empower brands and retailers to collaborate, better service their customers, respond to trends, and leverage more powerful insights to drive growth, according to the companies.
NPD's market information and advisory services for general merchandise, including softlines, technology and retail, as well as foodservice and food consumption, will combine with IRI's market measurement, supply chain and media optimization solutions, technology platform, retail relationships, and data assets for the consumer packaged goods industry encompassing the grocery, convenience and over-the-counter healthcare categories.
"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," said Karyn Schoenbart, CEO of NPD. "Both NPD and IRI share similar client-focused, innovative and collaborative cultures, making this combination a natural fit."
H&F, a global private equity firm, will 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.
After the deal closes, Perry will become CEO of the combined company and serve on the board; NPD Executive Chairman Tod Johnson will become chairman of the combined company's board; and Schoenbart also will join the board.