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ALS LIMITED — M&A Activity 2020
Jan 2, 2020
64365_rns_2020-01-02_c6da8e27-0a22-4274-b89d-901e93da8d47.pdf
M&A Activity
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asx/media release
3 January 2020
ALS acquires market-leading European food testing business
ALS Limited (ASX Code: ALQ) today announced the acquisition of the Aquimisa Group (‘Aquimisa’).
Aquimisa is the leading independent food testing business in Southern Europe with national coverage throughout Spain and regional laboratories in Portugal and Brazil with annual revenues exceeding 20 million euro.
Founded in 1994 and employing over 350 people, Aquimisa specialises in performing chemical and microbiological food analyses, quality control and food safety consultancy services. Aquimisa will expand the ALS Life Sciences footprint in Europe creating synergies with the existing ALS network as well as adding new capabilities and service offerings to existing and new clients. The business will be integrated and managed within ALS’ existing Life Sciences business stream in Europe.
Commenting on the transaction, ALS Managing Director and CEO Raj Naran said “this is another important, strategic acquisition for us. Aquimisa has a world class operation and client base in major, mature markets providing a solid platform in Europe for us to continue expanding our presence in the region.
“The acquisition of Aquimisa aligns with our stated acquisition strategy focusing on food and pharmaceutical opportunities in key global markets. It also supports our 2022 strategic plan of growing our non-cyclical businesses within the Group”.
The acquisition was funded from existing debt facilities within the Group. The transaction is not subject to security holder or regulatory approval.
-ENDS-
| Further information: | |
|---|---|
| Raj Naran | Simon Starr |
| Managing Director & CEO | Head of Investor Relations |
| ALS Limited | ALS Limited |
| +61 (7) 3367 7900 | +61 428 275 170 |
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About ALS Limited (ABN 92 009 657 489)
ALS is a global Testing, Inspection & Certification business. The company's strategy is to broaden its exposure into new sectors and geographies where it can take a leadership position.
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