Mérieux NutriSciences Enters Agreement to Acquire Worldwide Food Testing Business of Bureau Veritas
- The transaction will create a business with $1bn in revenue, significantly reinforcing Mérieux NutriSciences' position as a global leader in food testing, inspection, and certification (TIC).
- It expands Mérieux NutriSciences' geographic footprint, doubling its presence in Asia Pacific and Canada, and providing access to new regions with considerable growth potential.
CHICAGO, Oct. 7, 2024 /PRNewswire/ -- Mérieux NutriSciences, a world leader in food safety, quality, and sustainability, announced today that it has entered into an agreement to acquire the food testing business of Bureau Veritas for an Enterprise Value of EUR 360 million. This strategic acquisition, supported by its parent company, Institut Mérieux, reinforces Mérieux NutriSciences' commitment to promoting safer, healthier, and more sustainable food systems on a global scale.
The scope of this deal covers Bureau Veritas' food laboratory testing activities —microbiological and chemical analysis, and molecular testing. These serve food sector customers through a network of 34 laboratories and 1,900 technical staff across 15 countries in the Americas, Africa, and Asia Pacific. Additionally, Mérieux NutriSciences is in advanced discussions with AsureQuality, the New Zealand-based food assurance provider, to continue the joint ventures which currently exist between Bureau Veritas and AsureQuality in Australia and Southeast Asia.
Building on Mérieux NutriSciences' existing worldwide presence and reputation for delivering high-value, science-based solutions to its customers, this acquisition will enhance its global footprint, extending its operations to 32 countries, and doubling its presence in Canada and the Asia Pacific region.
Mérieux NutriSciences is a leader in the ~US$15B global food TIC market, which is experiencing steady growth of around 5% annually, largely driven by rising consumer demand for food safety and quality, heightened stringency in regulations, sustainability and traceability of the food supply chain, and innovation in food technology. With a collaborative network of nearly 140 laboratories and over 10,000 employees, the company will be even better positioned to meet the evolving needs of this growing industry through its comprehensive services, including testing, auditing, consultancy, research, environmental footprinting, training, and digital solutions.
"The acquisition of Bureau Veritas' food testing business marks a pivotal milestone for Mérieux NutriSciences. It will significantly enhance our ability to serve our customers, and ultimately increase our contribution to the safety, quality, and sustainability of global food systems. After closing of the transaction, together with the 1,900 future colleagues joining us from Bureau Veritas, we will be even stronger in fulfilling our purpose: 'Better Food. Better Health. Better World.'" said Nicolas Cartier, CEO of Mérieux NutriSciences.
"We are pleased to partner with Mérieux NutriSciences, a leader in Food testing, whose global footprint and proven expertise is the perfect fit for our food business and would allow it to thrive and to contribute to make food systems safer, healthier and more sustainable." added Hinda Gharbi, CEO of Bureau Veritas.
The transaction is expected to close by the end of the fourth quarter of 2024, once customary closing conditions have been met, including regulatory clearance in certain geographies.
About Mérieux NutriSciences:
At Mérieux NutriSciences, we leverage over 50 years of scientific and entrepreneurial expertise to answer food industry needs. Today's global challenges transform the way food is produced, marketed and consumed, which is why we know our clients need more than reliable analytical results; they need practical and innovative solutions that will contribute to make food systems safer, healthier and more sustainable. Present worldwide, we are more than 100 accredited laboratories and a team of over 8,000 committed employees. We strongly believe that together, we can create solutions to offer our planet: BETTER FOOD. BETTER HEALTH. BETTER WORLD. www.merieuxnutrisciences.com
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