Eurofins Scientific pushes further into domestic market
Leading laboratory group Eurofins Scientific has been using acquisitions to grow market share worldwide for years. But it’s not averse to applying the same strategy to its domestic market in France. The company recently announced that it has acquired Protec Group’s water and food testing businesses in France (“Protec Bio-testing”) – two laboratories “with a total surface area over 1,500 m2”.
Eurofins share price has risen by 15% over the past 12 months
SOURCE: Yahoo Finance
This acquisition marks the company’s first food testing lab in South West France, and will reinforce its leadership in food testing across the country. It will provide a “one-stop shop” platform for clients in the region, according to a company press release. Meanwhile, the other laboratory, in South East France, will offer a broad scope of microbiology and chemistry water testing services in the region, further bolstering Eurofins’ market leadership.
Eurofins’ CEO Dr. Gilles Martin made the following comment over the acquisition:
“We are extremely pleased to welcome Protec Bio-testing to the Eurofins Group. Protec Bio-testing strengthens Eurofins’ footprint in the food and water testing markets in France. In return, Protec Bio-testing’s clients will gain access to the full range of services, companies and knowledge of the Eurofins Group. This transaction is another demonstration of Eurofins’ commitment to expand its state-of-the-art network of food and water testing laboratories”.
Dominion holds Eurofins Scientific in its Global Trends Managed Fund.
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