OAKBROOK TERRACE, ILL. — Winsight, L.L.C., a business-to-business media and information company, has acquired Technomic, Inc., a food service market intelligence firm, from Ron Paul, Technomic’s founder, chief executive officer and president. Financial terms of the transaction were not disclosed.
Formerly CSP Business Media, Winsight specializes in the convenience retailing, restaurant and noncommercial food service industries. Technomic is a leading provider of primary and secondary market information and advisory services to the food industry.
“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, which will continue to operate under its name, will serve as Winsight’s information and advisory services platform. With the acquisition, Winsight expands its portfolio of services to include Technomic’s custom and syndicated research capabilities, Foodservice Planning Program, and such web-based information products as the Digital Resource Library, MenuMonitor, Distributor Intelligence Reports and Consumer Brand Metrics. Winsight said its customers will now benefit from highly customized solutions to help them understand the market, plan and execute strategy and deliver messages to targeted audiences over various media.
Mr. Paul said he will leave the business to pursue other interests. Technomic’s executive vice-presidents Gary Karp, Bob Goldin and Darren Tristano will retain their roles at the company.“We are excited for Technomic to join Winsight in delivering critical information and analysis to the marketplace,” said Mr. Karp, Mr. Goldin and Mr. Tristano in a joint statement. “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."