VWR Acquires Remaining Stake in KMF LABORCHEMIE HANDELS GmbH
VWR International, Inc. announced that it has acquired the remaining approximately 76% interest in KMF Laborchemie Handels GmbH (KMF) effective April 1, 2007, a German-based scientific laboratory supply distributor, that it did not already own. KMF has 70 employees, all based in Germany, with annual revenues of approximately $45 million US dollars.
Manuel Brocke-Benz, Senior Vice President and Managing Director of VWR's European operations, said, "We are very pleased that VWR now has a 100 percent stake in KMF, a key European distributor for the Company. The very customer-centric approach of KMF . together with the strength of VWR's logistics network and service capabilities in Germany and across Europe - will enhance our value proposition to our combined customer base. Our suppliers will also clearly benefit from having an even stronger partner in one of the major European markets. We look forward to integrating the KMF team to support our growth plans in 2007 and beyond."
Source: VWR International