Food testing services provider Eurofins Scientific has agreed to acquire 65% majority stake in Vietnamese food testing company Sac Ky Hai Ang (EDC-HD) for an undisclosed amount.
EDC-HD, a merger between the Ho Chi Minh City Center of Education and Chromatography Development, and the Hai Dang Scientific Service, has a facility in Ho Chi Minh City and satellite lab in C?n Tho where it employs over 100 people.
It also plans to establish a new facility in Vietnam's leading technology park, the Saigon Hi-tech Park.
EDC-HD provides analysis of food and agricultural products, as well as environmental testing at its facilities.
With this acquisition, EDC-HD will secure access to Eurofins' infrastructure and capability including its competence in grains testing, as well as fish and aquacultural products testing services.
EDC-HD will, in turn, offer Eurofins entry into this attractive testing market, and a strong platform to launch a broader service offering.
Eurofins CEO Gilles Martin said: "EDC-HD provides Eurofins solid entry into the analytical testing market in Vietnam and an excellent opportunity to support its thriving food industry.
"This acquisition reinforces our footprint in the region, and should allow us to accelerate our expansion in Asia Pacific. We are looking forward to strengthening EDC-HD's position in the market and supporting Vietnam's food industry by offering the full range of services and capabilities of the Eurofins Group."
