Founded in 2002, Market Performance Group (MPG) is a leading end-to-end, strategy & services omnichannel commerce agency serving today’s fastest-growing consumer goods manufacturers and retailers. With unparalleled depth and breadth of omnichannel operating experience, MPG builds and activates strategies that drive brand sales performance across both eCommerce and Brick & Mortar retailers. Its highly regarded team of strategy and commercialization professionals combine leading-edge omnichannel expertise with strategic consumer, category, and marketplace insights to create competitive advantage and drive profitable growth for CPG brands.
Transaction Highlights
Insignia developed an investment thesis focused on outsourced services to CPG brands and initiated a dialogue with MPG’s founders through proactive outreach, identifying MPG as a differentiated omnichannel commerce platform with a long track record of growth, exceptional customer and employee satisfaction, and a reputation for operational excellence.
MPG’s founders were seeking a partner that could help accelerate the company’s next phase of growth through expanded capabilities, broader geographic reach, and strategic acquisitions. The company was uniquely positioned to benefit from accelerating outsourcing and omnichannel commerce trends within the consumer products industry, and Insignia’s operational expertise, sales enhancement playbook, and strategic M&A capabilities aligned closely with management’s vision to build a larger, more diversified platform within a highly fragmented market.
Following a limited sale process, MPG selected Insignia as its preferred investment partner based on the strength of the relationship developed with management and shared vision for the company’s future. Insignia invested in MPG in December 2020, and MPG’s founders retained a significant equity stake in the business while remaining in executive leadership roles throughout the partnership.
Investment Thesis
- Well positioned to capitalize on secular growth in omnichannel commerce as brands increasingly outsource strategy, analytics, marketing and retail execution capabilities
- Differentiated market position as one of the few scaled partners capable of delivering end-to-end commerce solutions from strategy through in-market execution
- Founder-led leadership team with deep industry expertise and long-standing relationships across the retail and CPG ecosystem
- Diversified and highly recurring customer base of emerging and blue-chip CPG brands, supported by deep retailer relationships, strong client retention, and opportunities for continued cross-sell expansion
- Attractive platform for strategic M&A in a highly fragmented multi-billion-dollar market, with opportunities to expand capabilities and retail channel coverage, led by a management team with demonstrated buy-and-build expertise
Value Creation
Over a three-year partnership, Insignia worked alongside MPG’s founders and management team to execute against the strategic priorities identified at investment. Through systematic investments in talent, organic growth, and seven strategic acquisitions, MPG scaled into a leading omnichannel commerce agency managing over $10 billion of retail sales.
Organic Growth & Client Expansion
- Established strategy consulting as the “tip of the spear”, enabling a land-and-expand model that drove adoption of higher-value omnichannel commerce, marketing, and analytics services
- Generated 20%+ annual organic revenue growth through targeted sales & marketing initiatives, leveraging partner relationships, outbound sales efforts, and client referrals to drive new client wins and share-of-wallet expansion within existing accounts
- Enhanced brand awareness through diversified marketing initiatives, including publication of industry reports and proprietary market insights, the MPG Path Forward Podcast, and thought leadership presentations at industry trade shows
Operational Excellence & Scalable Infrastructure
- Implemented business planning and KPI management processes to support rapid organic and inorganic growth, margin expansion, and data-driven decision-making
- Invested in account management function to support 700+ client relationships while maintaining best-in-class client retention rates
- Built a highly predictable revenue base across a diversified roster of emerging and blue-chip CPG brands, with ~88% recurring/re-occurring revenue and ~109% net revenue retention
Omnichannel Capability Expansion
- Expanded MPG’s service offering from traditional retail brokerage into a full-service omnichannel commerce platform spanning strategy, analytics, marketing, and retail execution
- Broadened capabilities through organic investment and strategic acquisitions, creating a differentiated end-to-end solution for consumer brands
- Unified online and retail channels through scaled relationships with 100+ retail and marketplace partners, enabling seamless omnichannel execution for consumer brands
- Scaled omnichannel commerce capabilities to support more than $10 billion of client managed sales across leading retailers and marketplaces
Technology Enablement
- Leveraged analytics and marketplace intelligence across 100% of client engagements, informing go-to-market strategies and identifying opportunities for growth and cross-sell
- Enhanced customer business planning, reporting, data management, and process automation through proprietary technology platforms, including Ri-Bit, Bestrax, and Supplier Central
- Integrated retailer, marketplace, wholesaler, and third-party data sources to deliver actionable business intelligence and improve decision-making across the commerce lifecycle
Enhanced Talent & Leadership
- Strengthened executive leadership and governance through the recruitment of a CFO (Insignia Operating Executive), a President, and an independent board member who previously served as EVP of Merchandising at Walmart
- Maintained a people-first culture throughout a period of rapid organizational growth, more than doubling headcount while sustaining 90%+ employee retention and strong Glassdoor ratings
- Developed a scalable talent engine, sourcing 95% of new hires through employee networks and referrals
Strategic M&A Integration
- Partnered with management to define acquisition priorities and led sourcing efforts across 500+ targets, resulting in seven acquisitions that expanded capabilities, retailer coverage, geographic reach, and vertical expertise
- Implemented a unified One P&L operating model, integrating finance, HR, and administrative functions across acquired businesses
- Developed a repeatable integration playbook that achieved full systems integration within two months while preserving acquired client relationships and key talent
From our very first meeting, we were impressed by the culture and values Insignia upheld, which closely aligned with MPG’s. Together, we not only grew our business but built a relationship rooted in integrity and mutual respect.
Marc Greenberger, Managing Partner of MPG
Growth Highlights
20%+
Annual Organic Sales Growth
2x
Employee Count Growth
7
Acquisitions
$10B
Retail Sales Managed
The Outcome
Sold to Sentinel Capital Partners
In January 2024, Insignia exited its investment in MPG, capping a three-year partnership that transformed a founder-led brokerage into a leading omnichannel commerce platform with national reach, diversified capabilities, and a highly scalable operating model. The company’s transformation attracted significant buyer interest and culminated in a successful sale to Sentinel Capital Partners, while allowing Insignia to continue participating in MPG’s future growth through a new investment alongside Sentinel.