GCA Altium is now part of Houlihan Lokey

Transaction Details

August 1, 2015



Deal Type


Deal Value


Deal Team

Raymond Fröjd

NORM sold to GfK

NORM: Europe’s leading virtual shopper research software for the FMCG market

NORM’s main product, Simstore, is a software that simulates shopping environments for various market research purposes. Developed over 10 years, Simstore is fully cloud-based and creates photo-realistic two- and three-dimensional shopping environments.

The technology enables effective analysis of shoppers’ behaviour, resulting in actionable recommendations pertaining to optimising pricing, assortment, packaging, planograms and new product launches.

From its offices in Stockholm and Amsterdam, NORM leverages 12+ years of industry experience to carry out global projects for clients such as Unilever, Carlsberg, Nestlé, Arla Foods, and Philips.

Complementing the GfK portfolio in shopper research

German market research and user experience firm GfK acquired NORM in August 2015. The combination of the two companies’ skills in this area offers a unique suite of shopper research tools.

The acquisition of NORM follows other recent tech transactions completed by GfK in the fields of big data analytics and shopper-related solutions such as Media Control and Cogenta.

Under the umbrella of GfK, NORM will be able to scale and integrate its technology into a global shopper portfolio, allowing for quicker development of innovative methods to understand and predict shopper behaviour.

GCA Altium acted as sole advisor to the sellers.

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