Research provider The NPD Group announced that private equity firm Hellman & Friedman has made a binding offer and entered into an exclusive agreement to acquire the company.
Under the deal, NPD executive chairman Tod Johnson and CEO Karyn Schoenbart will retain a minority stake in the business and continue to serve on the NPD board of directors.
The transaction is expected to close by the end of 2021, subject to the entry into the definitive sale agreement and satisfaction of its conditions.
“As a leading source of market information and advisory services for general merchandise and foodservice, NPD is committed to helping our clients and the industries we serve achieve data-driven growth for many years to come,” Johnson said in a statement. “H&F shares our focus on long-term growth and has the resources and expertise to not only continue but also accelerate NPD’s momentum and long track record of success. Both Karyn and I are delighted to have the opportunity to partner as minority investors alongside H&F as we work in close collaboration on a long-term strategic plan and transition over time to the next generation of NPD leadership.”
“In a period of rapid change, NPD has helped guide our clients with omnichannel data, industry expertise, and analytics to help them understand unprecedented market shifts,” Schoenbart said in a statement. “It has been exciting to play an increasingly important role in the strategies of our clients by providing insight into what is happening today and what to anticipate in the future. We expect H&F to continue our tradition of client partnership and innovation with new products, data sources, and next generation platforms to make our information even more comprehensive, accessible, and actionable.”
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“Trusted by more than 2,000 customers in 19 countries, NPD is a market leader in its categories with an outstanding value proposition for customers and retailers. Tod and Karyn have led the company to great heights, and we look forward to working closely with them to build on this strong momentum,” Philip Hammarskjold, executive chairman of H&F, said in a statement.
“Rapidly evolving consumer expectations and the growth of e-commerce are accelerating the pace of change in the retail landscape. In an environment of unknowns, the ability for companies to use omnichannel analytics to measure and improve performance is more important than ever before, and NPD is extremely well positioned to provide these critical insights to its customers and retail partners,” Blake Kleinman, partner at H&F, said in a statement.
Founded in 1966, NPD is the eighth-largest market research company worldwide, with operations in the Americas, Europe and APAC, covering more than 20 industries.