Acquisition

22 Jul 2008 07:00

Intertek acquires Applica GmbH (Germany) Intertek Group plc (Intertek), the leading international provider of quality andsafety services to a wide range of industries, announces the acquisition ofApplica GmbH (Applica), an expert food testing laboratory in Bremen, Germany. Intertek purchased Applica from its management shareholders, Kurt-Peter andAntje Raezke, for an initial cash consideration of EUR 3.8 million (GBP 3.0million). A deferred consideration payment of up to EUR 0.7 million (GBP 0.6million) is payable in March 2009, dependent on financial performance. Applica is a high-end analytical laboratory supporting the food industry, withparticular expertise in honey and bee products. The company also providesquality control and analytical method development services to localpharmaceutical drug producers. Honey suppliers worldwide are expanding exports to meet increasing demand forhoney from health-conscious consumers. Strict regulations for honey, coupledwith the practice of applying antibiotics or banned substances and attempts totrade 'fake honey' products in some markets is driving demand for testing byproducers, packers, importers and retailers. Testing for honey is complex due to its chemical structure and composition.Applica has developed unique methods to identify the quality and authenticity ofproducts as well as specialised techniques that can be applied across otherproducts and items such as functional foods. Applica has 43 staff based in Bremen, Germany. The acquisition will form part ofIntertek's Consumer Goods division. Wolfhart Hauser, Chief Executive Officer of Intertek, commented: "The acquisition of Applica reflects our strategy of adding high-levelanalytical capabilities to our network that can support and add value to ourclient base in multiple industries" -ends- ContactsAston Swift / Sarah Ogilvie IntertekTelephone: +44 (0) 20 7396 3400aston.swift@intertek.com / sarah.ogilvie@intertek.com Richard Mountain / Susanne Yule, Financial DynamicsTelephone: +44 (0) 20 7269 7121richard.mountain@fd.com / susanne.yule@fd.com Notes to Editors ABOUT INTERTEK Intertek (LSE: ITRK) is the leading international provider of quality and safetyservices to a wide range of global and local industries. Partnership withIntertek brings increased value to customers' products and processes, ultimatelysupporting their success in the global market place. Intertek has theexperience, expertise, resources and global reach to support its customersthrough its extensive network of laboratories and offices, with over 20,000people in more than 100 countries around the world. www.intertek.com Copyright Business Wire 2008