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Spoonshot Acquisition Press Release
NEW YORK, NY - SEPTEMBER 7, 2023 - Target Research Group, a leading market research company with 37 years of research experience, has acquired food intelligence platform, Spoonshot. This strategic acquisition strengthens Target Research Group’s commitment to delivering advanced, AI-powered insights for businesses in the food and beverage industry.

Over the past two years, Target Research Group and Spoonshot have worked closely together to develop Foodbrain+, an AI that uncovers high-confidence innovation opportunities combined with best-in-class consumer testing. This results in lower costs and shorter timelines for market launches. The successful partnership has led to this acquisition, paving the way for an unprecedented blend of trusted market research methods supercharged by AI.

“We're thrilled to bring Spoonshot into our family, says Greg Spagna, CEO of Target Research Group. This unique AI platform has transformed how we understand food and beverage trends and consumer behavior. This acquisition enhances our ability to deliver unparalleled, forward-thinking market insights to our clients. Our goal is to further develop Spoonshot’s algorithm to cover all categories and the ability to create new ideas and winning products at pace.”

Spoonshot's Co-Founder & CEO, Kishan Vasani, said, “Taking our partnership with Target Research Group to this next level is a fantastic step forward. It means that the reach and impact of our AI research platform will be accelerated. I'm excited about the potential of our integrated offering that will redefine how businesses make data-driven innovation decisions in the food and beverage sector.”

About Target Research Group:
Target Research Group is a premier Market Research Company with over three decades of experience delivering high-quality, data-driven insights. Their expertise spans numerous industries, but they have a specific focus on the food and beverage vertical. For more information, visit www.targetresearchgroup.com

About Spoonshot:
Spoonshot delivers rich food & beverage intelligence by leveraging superior AI and nuanced food knowledge. In answering critical research questions, Spoonshot gives data-backed confidence to make better innovation decisions and ultimately win. For more information, visit www.spoonshot.com

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