US-based investment firm New Mountain Capital has made an investment in food and beverage (F&B) intelligence platform Datassential.
The financial details of the investment were not divulged by Datassential.
Besides New Mountain Capital, the company has also been backed by information services sector-focused investment firm Endicott Capital.
According to Datassential, the combined investment will further bolster its capabilities, expand offerings and boost its reach enabling it to serve clients across the food and beverage industry.
Datassential CEO Jim Emling said: “We are thrilled to join forces with New Mountain Capital and Endicott, firms that share our vision of product innovation and client-centric growth.
“This partnership will allow us to accelerate our business strategy and capture opportunities in the market, further expand our offerings and bring greater value to the food and beverage community worldwide.”
Established in 2001, Datassential provides guidance on trends, competitive benchmarking, and sales intelligence to food and beverage companies.
It counts several companies such as Burger King, DoorDash, General Mills, Land O’ Lakes, Pepsi, Starbucks, Target, as its customers.
New Mountain Capital managing director Gandhi Bedi said: “Datassential has established itself as a leader in the food and beverage insights market, known for its deep expertise, unparalleled data solutions and innovative approach.
“We are excited to be partnering with the Datassential team to support their vision and drive growth, both organically and through strategic acquisitions. This partnership marks another significant milestone in our ongoing effort to invest in transformative companies that are shaping their industries.”
