The NPD Group and Information Resources, Inc. (IRI) have agreed to merge in a deal that brings together a pair of global market data and analytics leaders covering the retail and consumer products industries.
The combination will offer clients a view of retail purchasing and consumption trends powered by advanced, predictive analytics on the IRI Liquid Data technology platform, according to a joint press release. The merger, terms of which were not disclosed, is expected to close in the second half of 2022.
NPD provides market information and advisory services for general merchandise, including home products, technology and retail, as well as food service and food consumption. IRI offers market measurement, supply chain and media optimization solutions, a technology platform, retail relationships and data assets for the consumer products sectors encompassing grocery, convenience and over-the-counter healthcare.
Hellman & Friedman, a global private equity firm that acquired NPD last year, will acquire a majority stake in IRI and merge IRI with NPD, according to a joint press release. H&F will lead an ownership group consisting of existing long-term IRI investors Vestar Capital Partners and New Mountain Capital, which will retain significant investments in the combined company, according to the release.
Following the close of the transaction, H&F, Vestar and NMC will each have representation on the combined company’s board of directors. Kirk Perry, president and CEO of IRI, will become CEO of the combined company and serve on the board. NPD Executive Chairman Tod Johnson will be chairman of the combined company’s board, and Karyn Schoenbart, NPD CEO, also will join the board. Jeff Ansell, current chairman of IRI’s board, will continue on the combined company’s board as well. Johnson and Schoenbart will continue to lead NPD until closing and will remain investors in the combined company, according to the press release.
Perry said, “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.
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 behavior. Both NPD and IRI share similar client-focused, innovative and collaborative cultures, making this combination a natural fit.”
