Eurofins Strengthens Its Footprint with the Acquisition of Exova’s Food, Water & Pharmaceutical Products Testing Laboratori...
May 19 2016 - 1:00AM
Business Wire
Regulatory News:
Eurofins (Paris:ERF):
Eurofins Scientific (EUFI.PA), a world leader in bioanalytical
testing, announces that it has signed an agreement to acquire
Exova’s food, water and pharmaceutical testing business in the UK
& Ireland, comprising 10 laboratories, for approximately GBP
18m, subject to closing adjustments. The transaction is expected to
be completed in July, upon fulfilment of customary closing
conditions.
Collectively, the 10 laboratories employ more than 300 staff and
are expected to generate revenues in excess of EUR 20m in 2016. Of
the 10 laboratories, 3 are for food testing, 5 for water testing,
and 2 for pharmaceutical products testing.
Exova’s food and water testing laboratories should reinforce
Eurofins’ existing footprint as well as expand client reach in the
UK and Ireland. The food testing laboratories provide safety
testing with a strong competence in microbiology, as well as
nutritional analysis, for both food manufacturers and retailers,
whilst the water testing laboratories serve local authorities and
consultants. The acquisition of these laboratories reinforces
Eurofins’ distribution channel for its wide range of analytical
services. In return, the laboratories will have access to the
entire Eurofins portfolio of services and infrastructure, and
benefit from the Group’s logistical network, thereby allowing them
to further penetrate their respective local markets, and increase
their share of their clients’ testing spend.
The transaction also includes the acquisition of 2 cGMP*
laboratories offering quality control (QC) analytical services to
medium to large pharmaceutical clients. This provides Eurofins with
an entry platform to deploy its market-leading biopharmaceutical
products testing capabilities to support the thriving
pharmaceutical and biotechnology industries in the UK.
Comment from Dr. Gilles Martin, Eurofins CEO: “These
laboratories represent a good strategic fit for Eurofins as they
reinforce our food and water testing footprint in the UK and
Ireland, and give us a foothold to roll-out our globally-renowned
competencies in pharmaceutical products testing in the UK, where we
did not yet have a laboratory in this business line. I believe that
this transaction is very positive for both Eurofins and Exova, as
it enables each party to focus its resources and leadership on
their core areas of testing. By enabling more focused investments
and access to a global portfolio of tests and technologies, as well
as higher economies of scale, this should also be a very positive
development for clients and other stakeholders in the UK and
Ireland.”
*cGMP – Current Good Manufacturing Practices
Notes for the editor:
Eurofins – a global leader in bio-analysis
Eurofins Scientific believes it is the world leader in food,
environment and pharmaceutical products testing, as well as one of
the global market leaders in agroscience, genomics, discovery
pharmacology and central laboratory services. In addition, Eurofins
is one of the key emerging players in specialty clinical diagnostic
testing in Europe and the USA.
With over 23,000 staff in more than 225 laboratories across 39
countries, Eurofins offers a portfolio of over 130,000 validated
analytical methods for evaluating the safety, identity,
composition, authenticity, origin, traceability and purity of
biological substances and products, as well as for innovative
clinical diagnostic. The Group provides its customers with
high-quality services, accurate results on time and expert advice
by its highly qualified staff.
Eurofins is committed to pursuing its dynamic growth strategy by
expanding both its technology portfolio and its geographic reach.
Through R&D and acquisitions, the Group draws on the latest
developments in the field of biotechnology and analytical chemistry
to offer its clients unique analytical solutions and the most
comprehensive range of testing methods.
As one of the most innovative and quality oriented international
players in its industry, Eurofins is ideally positioned to support
its clients’ increasingly stringent quality and safety standards
and the expanding demands of regulatory authorities and healthcare
practitioners around the world.
The shares of Eurofins Scientific are listed on the Euronext
Paris Stock Exchange (ISIN FR0000038259, Reuters EUFI.PA, Bloomberg
ERF FP).
Important disclaimer:
This press release contains forward-looking statements and
estimates that involve risks and uncertainties. The forward-looking
statements and estimates contained herein represent the judgement
of Eurofins Scientific’ management as of the date of this release.
These forward-looking statements are not guarantees for future
performance, and the forward-looking events discussed in this
release may not occur. Eurofins Scientific disclaims any intent or
obligation to update any of these forward-looking statements and
estimates. All statements and estimates are made based on the
information available to the Company’s management as of the date of
publication, but no guarantee can be made as to their validity.
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version on businesswire.com: http://www.businesswire.com/news/home/20160518006226/en/
For more information about Eurofins, please visit
www.eurofins.com or contact:Investor
RelationsEurofins Scientific GroupPhone: +32 2 766 1620E-mail:
ir@eurofins.com
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