COVANCE FOOD SOLUTIONS acquired by EUROFINS SCIENTIFIC

Eurofins Scientific has signed a definitive agreement to acquire Covance Food Solutions from LabCorp (which originally acquired the business through its 2015 purchase of Covance). The strategic rationale for the acquisition is to enhance Eurofins’ footprint in North America, the UK, and Asia while adding a high-quality portfolio of food product testing and consulting services. Because the two organizations have complementary geographic reaches and service offerings, no restructuring is required. Instead, Eurofins expects to realize top-line synergies through cross-selling to each organization’s existing client base. This divestiture allows LabCorp to focus on its core mission of improving health and lives, while positioning Covance Food Solutions within a group dedicated specifically to global food quality and development.