Bureau Veritas, a global leader in Testing, Inspection, and Certification services, announced today that it has entered into an agreement to sell its Food testing business (EUR 133 million in revenue in 2023) to Mérieux NutriSciences for an Enterprise Value of EUR 360 million and net proceeds from disposals of around EUR 290 million. This divestment reflects the Group's active portfolio management, in line with Bureau Veritas' LEAP | 28 strategy. The Group aims to focus its portfolio on served markets where it targets top leadership and performance positions by 2028.
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"The acquisition of Bureau Veritas' Food testing business marks a pivotal milestone for Mérieux NutriSciences. This will significantly expand our geographic coverage, consolidating a strong presence on every continent, enhancing our ability to serve customers, and ultimately increasing 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,'"added Nicolas Cartier, Chief Executive Officer of Mérieux NutriSciences.
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.
