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NEWS2 September 2010

Progressive Digital Media buys beverage researcher Canadean


UK— Progressive Digital Media (PDM) has acquired Canadean, a market research business specialising in the beverage industry, for £9m in cash and the issue of 6.9m new PDM shares.

Canadean was founded in 1973 by Kelsey van Musschenbroek, a former Financial Times journalist. The company produces quarterly and annual reports on the beverage markets, including soft drinks, dairy and beer, and offers a range of consulting services.

It employs 130 staff and consultants and reported annual revenue last year of £6.4m.

Following the acquisition, van Musschenbroek (pictured) has joined the PDM board as a non-executive director.

PDM owns the online fieldwork agency ID Factor and full-service research consultancy ICD.