Eurofins expands food testing capabilities
Eurofins Scientific is already the global market leader in food testing services, but a recent acquisition has expanded its capabilities even further. The French laboratory group has successfully pursued growth through acquisition for years, and the latest company to enter its stable is Institut Nehring – a German laboratory analytics company with particular expertise in the food testing area.
Eurofins’ share price is up by 46% year to date
SOURCE: Yahoo Finance
Institut Nehring is an established fixture of the German market. It was founded in 1905 and has an excellent reputation for delivering top quality analytic tests for all food products. These include chemical, physical, biochemical, microbiological and sensorial testing. They also have wider capabilities in the world of food, offering a robust consultancy service that covers food law, technology, safety and hygiene, quality control, site inspections and audits, harm reports and expert counseling.
Eurofins CEO Dr. Gilles Martin made a public comment over the acquisition:
“We are pleased to welcome Institut Nehring, a highly renowned food testing laboratory with a long history, to Eurofins’ family of businesses. The acquisition of Institut Nehring will expand Eurofins’ food packaging material testing services. In return, Institut Nehring will gain access to the Group’s entire portfolio of competencies, logistics and clients, as well as the Group’s IT systems, which should lead to improved process optimization to the benefit of Institut Nehring’s customers. This transaction is another demonstration of Eurofins’ commitment to acquire advanced technologies to expand its state-of-the-art portfolio of analytical services.”
Dominion holds Eurofins Scientific in its Global Trends Managed Fund.
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