SPINS, a Chicago-based provider of retail consumer insights, analytics and consulting for the natural, organic and specialty products industries, acquired FoodFacts Inc., an Edison, N.J.-based consumer awareness platform for transparency into nutrition data, ingredients, allergens and sensitivities. The acquisition provides SPINS with an unprecedented level of attribution of CPG products, FoodFacts' proprietary product health rating system and consumer-facing iOS application, in addition to its sophisticated API and SDK toolkit.
SPINS will now be able to add FoodFacts' data dictionary, algorithms for coding complex intolerances and robust product health scoring, as well as its consumer profiles, recommendation engines and patents into its portfolio. These benefits will accelerate SPINS' mission of increasing the presence and accessibility of better-for-consumer products in North America, arming its retailer and brand clients with a more in-depth view into their products and the activation tools to equip consumers with an unparalleled understanding of how products may impact their wellbeing.
“From the moment I met the FoodFacts team, I knew their passion and vast collection of assets would accelerate our mission to help consumers live healthier and more vibrant lives," says Tony Olson, chief executive officer of SPINS. "Consumers are demanding to know what is in the products they buy, and they lack unbiased, holistic sources for that information. SPINS is rising to that challenge, helping our clients meet and exceed shopper expectations around transparency."
"With this acquisition, SPINS immediately enhances the depth of our product library on allergens, intolerances and sensitivities, while gaining turnkey solutions to help our retail partners enhance their merchandising decisions and educate and empower their shoppers," adds Irina Mazur, president of SPINS' product library.
"I started FoodFacts Inc. with the idea that our database could provide users with information about the foods they are eating," says Stanley Rak, founder of FoodFacts. "With SPINS leading the way, FoodFacts' mission now has the potential to reach every consumer in North America and beyond."
