NielsenIQ said it's purchased Label Insight, a Chicago firm that has a database of consumer product information, for an undisclosed price.
Chicago-based NielsenIQ said Label Insight has product attribute data that covers roughly 99% of all online consumer queries across over 80% of U.S. food, pet, and personal care products.
With the purchase, NielsenIQ said it's "become the most comprehensive and robust data provider within the $175 billion health and wellness space, with the richest source of product attribution data, in tandem with its gold-standard, global retail measurement system (RMS) sales data and panel insights."
Label Insight is headquartered at 641 West Lake Street in Chicago. CEO Todd Morris, who was named to his post last year, said the deal will combine its metadata platform with NielsenIQ's retail measurement services.
“Retailers and manufacturers are in dire need of powerful analytics and there is no greater power within the product attribution arena than the combination of NielsenIQ and Label Insight," Morris said in a statement.
NielsenIQ, formerly known as Nielsen Global Connect that was sold by Nielsen Holdings in November for $2.7 billion, is now a standalone company in Chicago located at 200 West Jackson Boulevard. The global consumer business division has about 30,000 employees in nearly 100 countries. Nielsen granted NielsenIQ a 20-year license to use the "Nielsen" name. Nielsen Holdings remains a public company in New York.
