Equifax Expands Commercial Credit Insights with Acquisition of The Food Industry Credit Bureau, from Profile Credit
February 01, 2023
Equifax has created the largest source of commercial credit information in Canada with the acquisition of The Food Industry Credit Bureau, the leading provider of credit information for the Canadian agri-food industry, from Profile Credit.
“The Canadian agri-food industry employed 2.1 million people and generated around 6.8 percent of Canada’s gross domestic product in 2021. As the food supply chain becomes increasingly global, the integration of insights into Canadian agri-food businesses across sectors benefits customers worldwide, enabling them to make the decisions needed to minimize risk and maximize profitability,” said Sue Hutchison, President of Equifax Canada.
This acquisition grows the commercial credit insights available to Equifax customers in Canada and worldwide with information on over 90 percent of the Canadian agri-food industry. Over the last three decades, The Food Industry Credit Bureau from Profile Credit has worked in partnership with over 1,000 companies, such as food and beverage service providers, meat and poultry processing, and distribution to provide up-to-date credit data on over 200,000 businesses. The bureau has one of the most comprehensive platforms for bringing together members of the agri-food industry to solve collectively for the challenges and specific dynamics of the sector.
“Expanding our differentiated data assets and growing our business through strategic, bolt-on M&A is core to our EFX2025 growth strategy and we are energized to increase the breadth of our international differentiated data assets,” commented Mark W. Begor, CEO of Equifax.
Together with Equifax, the Profile Credit Food Industry Credit Bureau will have access to expansive global capabilities and cloud-native data, products, decisioning and analytical technology for the ongoing development of new products and solutions that can help our customers make credit decisions with confidence.
The Profile Credit credit bureau business is now part of Equifax Canada. For more information visit www.equifax.ca.