Chicago-based Information Resources Inc. has purchased fresh food research company FreshLook Marketing Group LLC.
"Our food manufacturer and retailer clients are eager for a total store perspective fresh/random weight products are an important component of many retailers" footprint and profitability," Andrew Appel, president and chief executive officer of IRI said in a news release.
"The FreshLook acquisition enables IRI to further improve its market leadership in providing the total view of the store which manufacturers and retailers want, integrate the two sets of information more efficiently and provide shopper marketing, analytics and consulting services that impact the whole store," he said in the release.
Employees of FreshLook Marketing Group will join IRI, and all assets will transfer to IRI to maintain continuity of client relationships, according to the release.
Fresh/random weight products account for about 20% of retail sales, according to data from the FreshLook Marketing Group. Through its Sales Tracking Service, FreshLook Marketing Group provides scanner-based sales, actual retail price and distribution information on fresh foods sold throughout the U.S.
"We are eager to expand our long-term relationship with IRI, enabling us to drive substantially more value for our clients in the fresh categories," Mark Degner, president and chief executive officer of FreshLook Marketing Group, said in the release. "In addition to offering manufacturers and retailers an integrated view of the store, we look forward to expanding our engagement with current FreshLook Marketing clients by offering IRI solutions and services."