GfK sells CP business to YouGov
July 7, 2023
GfK, the information services company, has entered an agreement to sell GfK Consumer Panel (CP) to the independent third-party entity YouGov in a deal worth a reported £270 million (€316m).
The divestment of GfK CP addresses competition concerns by the European Commission, thus paving the way toward completion of the NIQ and GfK combination.“After careful consideration of all options and following approval from our shareholders, we decided to offer this remedy in order to move forward with the combination of NIQ and GfK”, commented GfK Interim CEO and CFO Lars Nordmark. “With YouGov, we firmly believe we have found the perfect future owner for GfK CP and a solution in the best interests of all parties involved – especially for our clients and employees.”NIQ and GfK announced in July 2022 a definitive agreement through which the companies plan to combine, creating a provider of information and analytics in consumer and retail measurement. With global reach, stong measurement capabilities, and innovative technology, the combined NIQ-GfK will offer a clear view of consumer buying behaviour. Achieving this will require the combined entity continuing to focus on consumer and retail measurement analytics and the broader NIQ-GfK Consumer Panel business will remain a top strategic priority for NIQ-GfK, irrespective of the divestment of GfK CP.
The deal is expected to complete before the end of the year.