THE British quoted market information company Taylor Nelson AGB has purchased a 72 per cent stake in the Market Research Bureau of Ireland (MRBI), with an option to buy the remaining shares. The MRBI, one of Ireland's leading market research and opinion poll businesses, will continue to operate under existing management and its operations will be merged with Taylor Nelson AGB's (TNAGB) existing Irish businesses.
TNAGB already operates an Irish consumer panel, used for research and also syndicates some consumer services. These operations will be merged with those of MRBI creating an enlarged company employing 55 people. No redundancies are expected to result from the merger, according to the two companies.
MRBI's existing management led by chairman, Mr Jack Jones and managing director, Ms Aine O'Donoghue will remain in place serving their client base in the financial, commercial and political sectors. Among the company's contracts are the regular Irish Times/MRBI opinion polls.
The amount TNAGB is paying is not being disclosed. An announcement to the London Stock Exchange revealed that MRBI had turnover of £1 million last year and, using normal valuation criteria, the deal is likely to have valued the company somewhere between £800,000 and £1 million.
The shareholders who have sold their shares include Mr Jack Jones (52 per cent) his wife, Patricia (10 per cent) his son Terry (5 per cent) and Prof Tony Cunningham of UCD (5 per cent).
Ms O'Donoghue retains her 28 per cent stake for the moment, with TNAGB having an option to purchase it over the next 18 months.
Mr Jack Jones said yesterday that the specialist skills of the two companies would complement each other directly. It would also give MRBI clients access to TNAGB's technology and expertise, he said, particularly in the areas of customer satisfaction and fast moving consumer goods.
Mr Tony Cowling, chief executive of TNAGB, said that having investigated the Irish market, the company had decided to approach MRBI as it was a leading company in the industry and would be a neat fit" with TNAGB.
TNAGB is one of the largest information companies in Europe with an annual turnover in excess of £80 million. It has offices in London, Paris, Madrid, Dublin and Prague.
