The transaction is expected to be completed in July, upon fulfilment of customary closing conditions.<\/p>\n
Collectively, the 10 laboratories employ more than 300 staff and are expected to generate revenues
\nin excess of EUR 20m in 2016. Of the 10 laboratories, 3 are for food testing, 5 for water testing, and
\n2 for pharmaceutical products testing.<\/p>\n
Exova\u2019s food and water testing laboratories should reinforce Eurofins\u2019 existing footprint as well as
\nexpand client reach in the UK and Ireland. The food testing laboratories provide safety testing with a
\nstrong competence in microbiology, as well as nutritional analysis, for both food manufacturers and
\nretailers, whilst the water testing laboratories serve local authorities and consultants. The acquisition
\nof these laboratories reinforces Eurofins\u2019 distribution channel for its wide range of analytical services.
\nIn return, the laboratories will have access to the entire Eurofins portfolio of services and
\ninfrastructure, and benefit from the Group\u2019s logistical network, thereby allowing them to further
\npenetrate their respective local markets, and increase their share of their clients\u2019 testing spend.<\/p>\n
The transaction also includes the acquisition of 2 cGMP* laboratories offering quality control (QC)
\nanalytical services to medium to large pharmaceutical clients. This provides Eurofins with an entry
\nplatform to deploy its market-leading biopharmaceutical products testing capabilities to support the
\nthriving pharmaceutical and biotechnology industries in the UK.<\/p>\n
Comment from Dr. Gilles Martin, Eurofins CEO: \u201cThese laboratories represent a good strategic fit Eurofins Scientific (EUFI.PA), a world leader in bioanalytical testing, announces that it has signed an agreement to acquire Exova\u2019s food, water and pharmaceutical testing business in the UK & Ireland, comprising 10 laboratories, for approximately GBP 18m, subject to closing adjustments… <\/p>\n","protected":false},"author":20,"featured_media":52271,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[1601],"tags":[1671,1888,1437,2082,2035,1702],"_links":{"self":[{"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/posts\/52273"}],"collection":[{"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/users\/20"}],"replies":[{"embeddable":true,"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/comments?post=52273"}],"version-history":[{"count":0,"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/posts\/52273\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/media\/52271"}],"wp:attachment":[{"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/media?parent=52273"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/categories?post=52273"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/tags?post=52273"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\nfor Eurofins as they reinforce our food and water testing footprint in the UK and Ireland, and give us
\na foothold to roll-out our globally-renowned competencies in pharmaceutical products testing in the
\nUK, where we did not yet have a laboratory in this business line. I believe that this transaction is
\nvery positive for both Eurofins and Exova, as it enables each party to focus its resources and
\nleadership on their core areas of testing. By enabling more focused investments and access to a
\nglobal portfolio of tests and technologies, as well as higher economies of scale, this should also be
\na very positive development for clients and other stakeholders in the UK and Ireland.<\/em>\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"