Eurofins Scientific (EUFI.PA), the world leader in food testing supporting the entire food production chain, announces the acquisition of Agfirst Bay of Plenty, a leading fruit maturity testing laboratory in New Zealand.
Founded over 20 years ago, AgFirst Bay of Plenty provides independent kiwifruit maturation sampling and testing services across its 2 facilities, strategically located in the Bay of Plenty region of New Zealand, a region which represents approximately 80%1 of New Zealand’s kiwifruit crop. Kiwifruits is New Zealand’s leading horticultural export product, and the industry is experiencing a period of significant growth, with export value in 2015 estimated at NZD 1.4bn2 , a 43% increase from the previous year. AgFirst Bay of Plenty is also the leading provider of independent avocado maturation sampling and testing services.
The acquisition of AgFirst Bay of Plenty complements Eurofins’ existing competencies and reinforces the Group’s network and analytical capabilities to better serve the food and agricultural industries in New Zealand, and the broader Asia Pacific region. It also provides the Group a strong platform to support the high-growth kiwifruit export market. In return, AgFirst Bay of Plenty will have access to the complete portfolio of Eurofins’ services, which should enable it to solidify its leadership in its key niche market, and at the same time expand its service reach.
Comment from Dr. Gilles Martin, Eurofins CEO: “AgFirst Bay of Plenty expands Eurofins food testing offering in New Zealand and reinforces our footprint in the Asia-Pacific region. This acquisition is consistent with our strategy of building leading positions in niche areas in the testing market, to ensure deepest expertise in a wide range of markets. We look forward to providing AgFirst Bay of Plenty’s clients with access to the full range of services and capabilities of the Eurofins Group.”
Next Finance , July 2016