In one of the biggest developments in the market research industry in years, The Business Post Group has acquired Red C Research & Marketing.
Red C will now join the Business Post Group alongside the Business Post news title and its events and conference company, iQuest & Business Post Live. While it will remain as an independent business within the group it will act as a lead company in the wider group’s data & and insights business.
It is understood that the Business Post Group might have paid up to €7m to acquire Red C in a deal that has been backed by Beach Point Capital.
“Combined, we believe there are huge opportunities to drive growth and expansion in new markets and sectors, while providing even better industry leading business insight and services to current clients. We have worked with the Business Post since our early founding and over that time we have found that the two businesses have similar values and vision that provide a great fit for the future. They are also a great team of people to work with,” says Richard Colwell, CEO of Red C which he co-founded with Sinead Mooney in 2003.
Long regarded as one of the top research agencies in the country, Red C has won numerous awards down through the years and has worked with a wide range of blue-chip brands and state agencies.
“The investment in RED C marks a significant step in the Business Post Group’s strategy to help lead the reinvention of the challenged Irish media landscape. Today’s announcement forms a key part of the expansion of the Business Post Group as it continues to develop into a dynamic, flexible, high-end, tech-smart cohort of businesses focused on media, events, data, and technology services,” says Enda O’Coineen, publisher and chief executive of the Business Post Group.
“Under the terms of the deal, RED C will remain an independent company within the Group and continue to operate under the existing management team led by Chief Executive, Richard Colwell and Sinéad Mooney, the company’s Managing Director, and Richard Barton & Charlotte Butterworth, the UK Joint Managing Directors, all of whom will have autonomy on the running of the business. This will be a key cornerstone to fostering the exceptional reputation of RED C’s talented team and their ability to react quickly to business conditions, meet the needs of clients, and tell the story that is uncovered by the information collected,” Coineen adds.
“Today’s announcement stems from our long-standing relationship with RED C which we are incredibly proud of. We are positive that this investment forms an important milestone for both businesses as part of our expansion ambitions. RED C will be central to the Group’s new Insights and Data pillar of our business and will also feed into our experiences pillar. This latest acquisition shows our ability to grow, attract new talent and support our people, our greatest asset,” adds chief operations officer, Colm O’Reilly.
“When we founded RED C in 2003, we were delighted to secure the contract to conduct political polling for the Business Post. The partnership has flourished over the years, and this is a further step in strengthening that relationship. We believe that RED C will make an excellent addition to the overall Business Post Group as it continues to strengthen its dynamic, flexible, high-end, tech-smart cohort of businesses focused on media, events, data, software, and services and we are delighted to forge forward together in this new venture,” says Sinead Mooney, managing director of Red C.