FIS Group, the UK’s market leading food and beverage (F&B) innovation and insight agency has acquired Cambridge Market Research to further strengthen its research division. This strategic move solidifies FIS Group’s position as the industry leader in consumer-driven insights and innovation.
As part of the acquisition, FIS Group gains ownership of Foodfax, an exclusive grocery product assessment database. With over 30 years of independent sourcing and reviewing, Foodfax has compiled over 30,000 assessments covering more than 450 food and drink categories. Continuously updated with consumer reviews of emerging products, Foodfax is an indispensable resource for both brands and retailers, allowing benchmarking of new products against category norms.
“This acquisition marks a pivotal moment for FIS Group,” stated Mike Faers, Founder and Group CEO of FIS Group. “Combining Cambridge Market Research’s expertise with our existing businesses enables us to offer unparalleled insights and innovative solutions to our clients, empowering them to drive successful and profitable growth on both core and innovation.”
The acquisition brings onboard key talents, including Steve Lawrence, Director, and Alison Eddershaw, Insight & Development Director from Cambridge Market Research, as well as the expertise and knowledge of the wider highly experienced team.
Kelly Dowson, Group Managing Director, highlighted the benefits for the industry: “Our acquisition significantly strengthens our position as the UK’s leading F&B innovation and insight agency. We now offer comprehensive support from blue-sky innovation to product development, consumer research and launch, now all underpinned with our exclusive market intelligence database Foodfax. The acquisition also strengthens our fieldwork scope, panel capacity, capabilities and geographic reach.”
“We aim to leverage the strengths of our four businesses to deliver ground-breaking innovation and insights by aligning our teams to deliver complex cross-functional projects,” Mr Faers added. “By introducing new technologies, we have increased our offer with innovative, rapid and cost-effective solutions.”