Neuilly-sur-Seine, France - Bureau Veritas S.A and New Zealand state-owned-enterprise AsureQuality, have entered into an agreement for the purchase of Dairy Technical Services (DTS), an Australian market leader in the provision of food testing services.
Bureau Veritas Group CEO Didier Michaud Daniel says, "Bureau Veritas recognise the strength of the DTS business which, by contracting with Australia's largest dairy processors and food companies, gives an excellent foot print for our entry into the food testing market in Australia.
"Partnering with AsureQuality, who previously owned 25.4% of DTS, ensures we maintain the technical excellence and customer focus that has driven DTS' success".
AsureQuality CEO John McKay says, "This acquisition is an important strategic move for AsureQuality in building our capability and better servicing the needs of our customers.
"Partnering with Bureau Veritas, a global leader in testing, inspection and certification that is looking to increase its interests in the food service business, will strengthen both parties' capacity to help our clients meet the growing challenges of quality and safety in the food supply chain".
The agreement is subject to pre-completion conditions typical for a transaction of this nature.
Bureau Veritas was advised by Miles Advisory Partners, AsureQuality was advised by Cameron Partners Ltd, and King & Wood Mallesons provided legal advice to the purchasers. Deloitte advised on financial due diligence.
For further information or media inquiries please contact:
Pacific Senior Vice President, Bureau Veritas
Phone: +61 399 220 767
Chief Executive Officer, AsureQuality
Phone: +64 27 668 8957
About Bureau Veritas
Bureau Veritas is a world leader in laboratory testing, inspection and certification services. Created in 1828, the Group has 66,000 employees located in 1,400 offices and laboratories around the globe. Bureau Veritas helps its clients improve their performance by offering services and innovative solutions in order to ensure that their assets, products, infrastructure and processes meet standards and regulations in terms of quality, health and safety, environmental protection and social responsibility. Bureau Veritas is listed on Euronext Paris and belongs to the Next 20 index. Compartment A, ISIN code FR 0006174348, stock symbol: BVI. For more information, visit www.bureauveritas.com
AsureQuality is a commercial company 100% owned by the New Zealand government. It provides food safety and biosecurity services to the food and primary production sectors worldwide. Every day its experienced team of 1700 experts based at over 60 locations throughout Australasia, Singapore and the Middle East works alongside customers in over 40 countries to assure the safety and quality of food being produced for millions of people. Its skilled staff and extensive accreditations enable it to audit, inspect, verify and certify food safety and quality and management systems from the farm right to the supermarket shelf. Visit us at www.asurequality.com