Eurofins reinforces leadership in the Benelux testing market
03 April 2012
Eurofins Scientific S.E.*, the world leader in food and pharmaceutical products testing, and in environmental laboratory services, has further reinforced its market leadership with recent acquisitions in Belgium and The Netherlands.
In March 2012, Eurofins completed the acquisition of LabCo in The Netherlands and Envirocontrol in Belgium. LabCo is one of the key food and feed testing service providers at the Port of Rotterdam, one of the busiest trading gateways to Europe, and brings to the Group its core competence in physicochemical analyses geared towards food and feed products coming through Rotterdam. Envirocontrol provides soil and water testing with accreditations in both Belgium and The Netherlands, and complements Eurofins' existing environmental testing activities in the region. These acquisitions follow similar recent transactions completed in the Belgian market, namely BECEWA, active in the environmental testing market, and Chemiphar, a leading player in the domestic market, providing services across the food, environment, forensics and pharmaceutical testing sectors.
These acquisitions reinforce Eurofins' leading position in the Benelux market, and demonstrate the Group's strategy of consolidating the markets where it operates, and taking leadership of those markets. In all these transactions, all parties work towards seamless integration, to increase efficiency, benefit from economies of scale, and improve customer service quality through better and wider service offering and reduced turn-around time (TAT).
Overall, these transactions in the Benelux, and across various other markets, in addition to solid organic growth across the Group's businesses, should allow Eurofins to achieve, or exceed, its mid-term objectives of generating revenues of at least EUR 950m for 2012 and EUR 1bn for 2013.
Comment from Dr. Gilles Martin, Eurofins CEO: "These strategic acquisitions underscore the strength of the Eurofins' brand, as a partner of choice in the analytical testing industry. More importantly, it positions Eurofins well to sustain growth and market leadership over the long term."
*Notice from Eurofins Scientific S.E.
(1) Following the fulfillment of all legal requirements, Eurofins Scientific S.E. has successfully completed the transfer of its legal corporate seat to Luxembourg. Effective 30 March 2012, Eurofins Scientific S.E. is legally and commercially registered in the Grand Duchy of Luxembourg.
(2) Following the approval of the proposal of the Board of Directors to raise the dividend payment from EUR 0.20 to EUR 0.80 per share at the Annual General Meeting held on 29 March 2012, the Company has set the following dates: ex-dividend date on 03 April 2012, record date on 05 April 2012, and payment date on 10 April 2012.
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Notes for the editor:
Eurofins - a global leader in bio-analysis
Eurofins Scientific is the world leader in food and pharmaceutical products testing. It is also number one in the world in the field of environmental laboratory services and one of the global market leaders in agroscience, genomics and central laboratory services.
With over 10,000 staff in more than 160 laboratories across 32 countries, Eurofins offers a portfolio of over 100,000 reliable analytical methods for evaluating the safety, identity, composition, authenticity, origin and purity of biological substances and products. The Group provides its customers with high quality services, accurate results in 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 around the world.
The shares of Eurofins Scientific are listed on the NYSE Euronext Paris Stock Exchange (ISIN FR0000038259, Reuters EUFI.PA, Bloomberg ERF FP).