Eurofins: finalises acquisition of Covance Food Solutions

(CercleFinance.com) - On Wednesday, Eurofins Scientific announced that it has finalised the acquisition of Covance Food Solutions (a provider of laboratory tests and advisory services which covers the entire food logistics chain); it will therefore leave LabCorp's control.


Operating an integrated network of twelve sites worldwide (including nine in the US), Covance has 850 employees. The company is expected to generate 2018 revenues of 160 million dollars, with an Ebitda margin that is well above Eurofins' targets.

Eurofins Scientific said that the deal was concluded at a price of 670 million dollars.



Copyright (c) 2018 CercleFinance.com. All rights reserved.