Data analytics firm Kantar sold to Bain Capital
Control of Kantar, the data tracking and analytics firm that’s the go-to resource for the retail, fashion and beauty sectors, is being sold to Bain Capital, its owner WPP confirmed on Friday. The sale is expected to complete early next year.
Marketing and branding giant WPP is selling 60% of its stake in the company in a deal that values Kantar at around $4 billion. WPP’s chief executive Mark Read had previously said he was interested in selling anything between 60% and 75% of the business and after the sale confirmation said Bain’s expertise and resources would strengthen Kantar’s offer. The company is best known by many for its data that details things like retailer market share.
“Kantar is a great business and we look forward to working with Bain Capital to unlock its full potential,” he added. “As a strategic partner and shareholder, WPP will continue to benefit from its future growth while our clients continue to benefit from its services and capabilities.”
Kantar CEO Eric Salama hailed the opportunity for the company to accelerate its growth and said: “We are focused on delivering ‘human understanding at scale and speed’ and the ‘best of Kantar’ more consistently. We will do so by investing more in talent and by becoming a more technology-driven solutions provider.”
Luca Bassi, an MD at Bain Capital Private Equity, also spoke of opportunities for expansion and Bain’s intention to invest in tech to expand Kantar’s capabilities and reinforce its market-leading position globally.
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