OAKBROOK TERRACE, IL., Sept. 1, 2015—Winsight, LLC ("Winsight"), formerly CSP Business Media, a market-dominant, business-to-business media and information company specializing in the convenience-retailing, restaurant and noncommercial foodservice industries, announced today that it has acquired Technomic, the leading provider of primary and secondary market information and advisory services to the food industry. Technomic was acquired from its founder, Ron Paul, who spent much of the last 50 years establishing the business as the “go-to" source for food and foodservice industry insights and strategic advice.
"The acquisition of Technomic represents an important step in Winsight’s growth strategy by providing our customers and audiences access to the most credible source of food industry market intelligence,” said Mike Wood, Chief Executive Officer of Winsight. “Winsight’s industry leading print and digital assets, along with its world class events, will act as new platforms from which to broadcast Technomic’s insights. This is a big win for customers of both businesses as we are now the single source provider of the best content, media platforms, analysis, education, and in-person events across the industries we serve”.
Technomic will continue to operate under its brand name, and will serve as Winsight’s information and advisory services platform. Technomic’s custom and syndicated research capabilities, its Foodservice Planning Program, and its collection of web-based information products including the Digital Resource Library, MenuMonitor, Distributor Intelligence Reports and Consumer Brand Metrics broaden Winsight’s portfolio of services, and position it as a true intelligence partner to all of its clients.
The synergies between the businesses will expand far beyond sharing content and analysis; the integration will transform the way the business designs solutions for its customers. With access to rich databases and expert consultants, combined with marketing services capabilities, expansive print and digital audience databases, and exclusive events, customers will now benefit from highly customized solutions that help them understand the market, plan and execute their strategy, and deliver their message to targeted audiences over a variety of media.
Technomic’s founder, CEO, and President, Ron Paul, will leave the business to spend more time with family and pursue personal interests, while the firm’s Executive Vice Presidents, Gary Karp, Bob Goldin, and Darren Tristano, will continue on in their respective roles. “After many years in this industry, I believe now is the right time to pursue other interests. I couldn’t be prouder of our employees or their work, and I am confident Winsight will continue building the Technomic brand and supporting our great talent”. Karp, Goldin, and Tristano echoed Paul’s sentiment in a joint statement, “We are excited for Technomic to join Winsight in delivering critical information and analysis to the marketplace. Winsight’s growth plan over the next five years presents great opportunities for our employees and expansion opportunities for our business. Now more than ever, we think the time is right to make investments in the business to expand our offerings so we can help our clients be more successful in their pursuits, and as part of Winsight, we can do that.”
Elizabeth Reardon, 312-506-3843, firstname.lastname@example.org
Terms of the transaction were not disclosed.