French food safety company Mérieux NutriSciences has agreed to acquire the food testing business of Bureau Veritas for an enterprise value of €360m.
Bureau Veritas is a France-based certification company that specialises in testing, inspection, and certification in various industry sectors.
Its food laboratory testing business is a laboratory activity comprising microbiological and chemical analysis and molecular testing in the food sector.
The company has been serving food sector customers through its network of 34 laboratories and 1,900 technical staff across 15 countries in the Americas, Africa, and Asia Pacific.
The proposed acquisition is expected to be completed by the end of the fourth quarter of 2024, subject to customary closing conditions, including regulatory approvals in certain geographies.
Mérieux NutriSciences is in advanced talks with New Zealand-based food assurance provider AsureQuality to continue the joint ventures with Bureau Veritas in Australia and Southeast Asia.
Mérieux NutriSciences CEO Nicolas Cartier said: “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.”
Building on Mérieux NutriSciences’ existing global presence and capabilities, the acquisition is expected to help enhance Bureau Veritas’ global footprint.
The acquisition would also help expand the French certification company’s operations into 32 countries and double its presence in Canada and the Asia Pacific region.
Furthermore, Bureau Veritas intends to use the transaction proceeds to finance its advanced M&A plans, as part of the LEAP I 28 strategy.
Bureau Veritas CEO Hinda Gharbi said: “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.”
