WENDEL : Bureau Veritas becomes the market leader in Australia for food testing with Dairy Technical Services
Wendel welcomes the acquisition by Bureau Veritas of a majority stake in the Australian company Dairy Technical Services ("DTS"), Australia's leading provider of food laboratory testing and analysis. The remaining stake will be held by AsureQuality, a New Zealand state-owned company.
Since its inception in 1954, DTS has partnered a large number of Australian agri-food groups, tracing and guaranteeing the quality of food and agricultural products from field to fork. Based in Melbourne, Dairy Technical Services has three other laboratories in Australia. It employs 400 people and had revenues of €35 million in 2015.
This transaction will enable Bureau Veritas to access markets controlled by the major agri-food players in Asia-Pacific, and offer a large range of services that enable companies to reduce risk, ensure quality and improve productivity throughout the supply chain.
Partnering with AsureQuality in the acquisition of DTS, will bring its recognized expertise in the agri-food industry, and benefit from Bureau Veritas' worldwide network. This transaction offers numerous synergies in the short-term.
This transaction will contribute positively to Bureau Veritas long-term value creation. Wendel is the controlling
shareholder of Bureau Veritas with 40.5% of its capital. Since Wendel's first investment in Bureau Veritas in 1994, the company has made more than 140 acquisitions.
Financial calendar
6/1/2016
Shareholders' Meeting /publication of NAV and trading update (before Shareholders' Meeting)
In Paris
9/8/2016
H1 2016 earnings / Publication of NAV (pre-market release)
By conference call
12/1/2016
2016 Investor Day / publication of NAV and trading update (pre-market release)
In London
About Wendel
Wendel is one of Europe's leading listed investment firms. The Group invests internationally, in companies that are leaders in their field, such as Bureau Veritas, Saint-Gobain, Cromology, Stahl, IHS, Constantia Flexibles and AlliedBarton Security Services. Wendel plays an active role as industry shareholder in these companies. It implements long-term development strategies, which involve boosting growth and margins of companies so as to enhance their leading market positions. Through Oranje-Nassau Développement, which brings together opportunities for investment in growth, diversification and innovation, Wendel is also a shareholder of exceet in Germany, Mecatherm and Parcours in France, Nippon Oil Pump in Japan, Saham Group in Africa and CSP Technologies in the United States.
Wendel is listed on Eurolist by Euronext Paris.
Standard & Poor's ratings: Long-term: Long-term: BBB-, stable outlook - Short-term: A-3 since July 7, 2014. Wendel is the Founding Sponsor of Centre Pompidou-Metz. In recognition of its long-term patronage of the arts, Wendel received the distinction of "Grand Mécène de la Culture" in 2012.
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Press contacts
Christine Anglade-Pirzadeh: +33 (0)1 42 85 63 24
c.anglade@wendelgroup.com
Caroline Decaux: +33 (0)1 42 85 91 27
c.decaux@wendelgroup.com
Analyst and investor contacts
Olivier Allot: +33 (0)1 42 85 63 73
o.allot@wendelgroup.com
Elisa Muntean: +33 (0)1 42 85 63 67
e.muntean@wendelgroup.com
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: WENDEL via GlobeNewswire
