Eurofins strengthens Asia Pacific footprint with the acquisition of New Zealand Laboratory Services
Eurofins Scientifi announced 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."
Source: Eurofins Scientific