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Eurofins to reinforce Asia Pacific presence through acquisition

26-Apr-2012
Last updated on 26-Apr-2012 at 11:46 GMT

Food testing firm Eurofins Scientific plans to reinforce its presence in the growing Asia Pacific region through the acquisition of a majority stake in a testing service firm.

The deal, which is expected to be completed in the next few days, will see Eurofins acquire a 52.6% majority stake in Japan-based product testing company Nihon Kankyo K.K.

The acquisition of Nihon Kankyo, which generated revenue of over €20m in 2011, was agreed for an undisclosed sum.

According to a statement from Eurofins, the acquisition will allow the company to boost its service offerings in Japan and complement its existing activities in food and pharmaceutical testing.

“Nihon Kankyo K.K. is an excellent strategic fit to Eurofins’ existing activities in Japan, and provides a solid entry into the established domestic environmental testing market. Furthermore, it significantly reinforces the Group’s growing presence in the Asia Pacific region,” said Eurofins CEO Dr Gilles Martin.