Mintec acquires CommoPrices to extend its coverage of commodity price data and intelligence.
• Expanding customers ‘one-stop shop’ access to commodity price data, analysis, and forecasting
• Businesses can achieve a stronger competitive advantage through the superior management of commodity risk
• The acquisition accelerates Mintec’s growth in the $139 BN global data market by adding critical data to the Mintec Analytics platform
Mintec, the leading global provider of commodity price data, analytics and forecasts for agri-food and manufacturing raw materials, announced its acquisition of French business, CommoPrices, an independent provider of commodity price data and analysis operating across similar sectors.
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“By integrating CommoPrices into our award-winning SaaS platform, Mintec Analytics, we’ll be offering the most advanced ‘one-stop shop’ for procurement teams globally.”
— Spencer Wicks, CEO of Mintec
The addition of CommoPrices to the Mintec business brings new price data in specialist food commodities, such as European fruits and vegetables, and extends the number of customers in the business’’s portfolio. The expanded range of individual commodity prices and market analysis provides procurement professionals with the most comprehensive insight and critical intelligence to support their buying, budgeting, and risk management strategies.
“We are delighted that CommoPrices is now part of Mintec. Our customers can develop their commercial strategy by accessing even more robust and reliable price data and analysis for the key commodities they buy and sell,” said Spencer Wicks, CEO of Mintec. “By integrating CommoPrices into our award-winning SaaS platform, Mintec Analytics, we will cement our position as the most advanced ‘one-stop shop’ for procurement teams globally,” Spencer continued.
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“By integrating CommoPrices to Mintec, we accelerate the development of this platform developed by Reussir group for four years”, said Thibaut De Jaegher, CEO of Reussir Group & CommoPrices. “CommoPrices’s customers will be able to access the world’s largest commodities prices database, unique proprietary data and new functionalities such as commodity reports, weather analysis and price forecasts,” Thibaut added. “This partnership is the perfect combination of two like-minded commodity intelligence companies unified to give a powerful service for retailers and manufacturers around the world.”
The significant market volatility and rapid price inflation we are seeing today affect almost every sector and are particularly acute in the global food, beverage, and manufacturing industries. Price intelligence is essential to help these businesses understand how price movements impact their exposure to price risk and affect overall profitability. However, many companies lack access to accurate price data to help them negotiate with their suppliers and fix the timing of supply contracts. Combining Mintec’s 35 years of market experience in price discovery, proprietary data and price forecasts with the exceptional price data and market insight from CommoPrices, companies can now get the clearest, most actionable insight to inform their future buying decisions.
