Eurofins signs definitive agreement to acquire majority stakes in Institut Pasteur de Lille subsidiaries, IPL SED Nord and IPL Invest
03 October, 2011
Following the signing of an exclusive discussion agreement with the Fondation Institut Pasteur de Lille (IPL) on the 19th of July, 2011*, Eurofins Scientific announces that it has signed a definitive, mutually-binding agreement on the 30th of September to acquire a 67% stake in each of its two subsidiaries, namely IPL Invest and IPL Santé Environnement Durable Nord (IPL SED Nord). These entities are leaders in the French environmental testing market, and generate combined annual revenues of approximately EUR 45m.
The transaction to take a controlling stake in the aforementioned companies is expected to be completed on the 31st of October, 2011, and is subject to customary formal closing conditions. In preparation of the expected integration of the IPL SED companies into Eurofins, both groups have commenced a commercial and technical cooperation to combine their expertise in environmental analysis, and now offer customers an integrated portfolio of high-quality analytical solutions, with an optimal coverage of the French market.
*Communicated in a press release dated 20 July, 2011
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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 about 9,500 staff in more than 150 laboratories across 30 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).