Eurofins reinforces leadership in the Benelux testing market
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."
Source: Eurofins Scientific