M&A Advisory

Cambridge Market Research

Adviser to market research agency, Cambridge Market Research on the sale to FIS Group, the UK’s leading F&B agency specialising in food & beverage development, consumer insights and product innovation.

The deal

FRP Corporate Finance is pleased to have advised food and beverage (F&B) market research agency, Cambridge Market Research (Cambridge MR) on the sale to Food Innovation Solutions Group (FIS Group).

Established in 1980, Cambridge MR is a full service market research agency specialising in the F&B sector, bringing unrivalled experience of markets, consumers and clients to bear on business issues. As part of the acquisition, FIS Group also gains ownership of Foodfax, an exclusive grocery product assessment database; with over 30 years of independent sourcing and reviewing, Foodfax has compiled over 30,000 assessments covering 450+ food and drink categories. Continuously updated with consumer reviews of emerging products, Foodfax is an indispensable resource for both brands and retailers, allowing benchmarking of new products against category norms.

Steve Lawrence, Director and Alison Eddershaw, Insight & Development Director will remain with the business, as well as the expertise and knowledge of the wider highly experienced Cambridge MR team.

FIS Group is the UK’s leading innovation and insight F&B agency now comprising of four complementary businesses offering services including F&B development, consumer insights and product innovation, empowering businesses to thrive in a dynamic market landscape. The strategic acquisition will further strengthen FIS Group’s research division whilst solidifying its position as the industry leader in consumer-driven insights and innovation. It is expected that FIS Group will double its share of the research market as a result of the deal.

FRP Corporate Finance were appointed as lead advisers to Cambridge MR. Corporate Finance Partner, James Cooper negotiated a deal structure that aligned the interests of all shareholders and supported at all stages to deliver a successful conclusion to the deal.

James Cooper, Partner at FRP Corporate Finance, said: “It was a pleasure to work with the Cambridge MR team. The acquisition of Cambridge MR by FIS Group marks a significant landmark and incorporates another highly respected brand into its portfolio. I look forward to seeing the FIS Group continue to increase its presence in the UK food and beverage research sector in the years ahead.”

Steve Lawrence, Operations Director at Cambridge MR, said: “The sale represents an important milestone in the business’ ongoing growth journey and will help it to scale in the years ahead with full support over Cambridge MR’s unique culture and ethos. It will also help to strengthen FIS Groups presence in food and beverage market research.

Mike Faers, Founder and Group CEO at FIS Group, said “Combining Cambridge MR’s expertise with our existing businesses enables us to offer unparalleled insights and innovative solutions to our clients, empowering them to drive successful and profitable growth on both core and innovation. We aim to leverage the strengths of our four businesses to deliver groundbreaking innovation and insights by aligning our teams to deliver complex cross-functional projects.”

Deal summary


December 2023


Business services

Deal type:

Selling a business

Deal size:


The acquisition of Cambridge MR by FIS Group marks a significant landmark and incorporates another highly respected brand into its portfolio. James Cooper Corporate Finance

Related team

James Cooper

James Cooper

  • Partner
  • Corporate Finance
  • Norwich