Eurofins strengthens Asia Pacific footprint with the acquisition of New Zealand Laboratory Services
02 July 2012
Eurofins Scientific (EUFI.PA), the global leader in food, environment and pharmaceutical product testing services is pleased to announce that it has acquired New Zealand Laboratory Services (NZ Labs), the second largest food testing laboratory network in New Zealand.
NZ Labs generated revenues of over EUR 5m in 2011 and employs around 100 staff across 3 strategically-located laboratories spanning the whole of New Zealand. The domestic food testing market serves primarily the dairy and meat sectors of the food industry, with the majority of produce from these sectors bound for export. In addition, many of the large, global food producers and manufacturers are also present in New Zealand, as part of their Asia Pacific strategies. As many of these food producers are already clients of Eurofins, either in Europe or the US, this acquisition provides the potential for both strategic and geographic extension of relationship with existing clients. Furthermore, the well-developed dairy market in New Zealand also opens up new opportunities for the Group in the region, for example in leveraging its dairy and pesticides testing capabilities.
The entry into New Zealand is consistent with the Group's commitment in the rapidly-growing Asia Pacific region. Given NZ Labs' existing nationwide coverage, the roll-out of Eurofins' technology and capabilities, and the transfer of know-how should be reasonably quick, allowing the Group to participate actively in this growing food market.
Comment from Gilles Martin, Eurofins CEO: "NZ Labs is an excellent strategic fit with Eurofins' growing Asia Pacific presence and provides a solid entry into the thriving food industry in that region. Specifically, it provides a strong regional platform for the Group's capabilities in dairy and pesticides testing. We are looking forward to strengthening NZ Labs' position in the market by offering the full range of services and capabilities of the Eurofins Group."
For more information, please visit www.eurofins.com or contact:
Eurofins Investor Relations
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 12,000 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).