Multinational agricultural and animal health market research company Kynetec has acquired Market Probe Agriculture & Animal Health from the US-based Market Probe group, along with the Market Probe Europe subsidiary that has its offices in Antwerp. Financial details are not available.
The move comes a year after Kynetec directors completed their management buy out from the GfK agency in May 2016, backed by private equity fund Inflexion.
The latest expansion will add around 40 research professionals to Kynetec’s global team of more than 600, while the office in Belgium means it now has a presence in 22 countries. As its brand suggests, Market Probe’s core custom research business serves the agriculture and animal health sectors, but Market Probe Europe also provides custom market research to the B2B and consumer services clients in the construction, energy, finance & insurance, healthcare, industrial, postal & logistics, public sector and telecoms industries.
“The Market Probe team has an excellent reputation in executing long-term tracking projects,” notes Kynetec chief executive Stephen Hearn. “These are generally large and important projects used to build deeper insights over time. We are excited to add this enhanced capability to our business, providing a larger portfolio of market research tools for our clients.
“Additionally, the B2B and Consumer Services expertise and client portfolio will allow us to develop client partnerships and utilise our innovations in new, adjacent specialist markets.’’
Dominique Vanmarsenille, country manager for Market Probe Europe, adds: “We pride ourselves on the strength of our client partnerships. Joining Kynetec allows us to expand our global footprint and have access to new technologies for data collection, data processing and data delivery, enabling us to continue to add value to our clients’ businesses.”