Eurofins Scientific--a provider of environment testing services--has announced that it has signed an agreement to acquire EAC Corporation Ltd. from Asahi Industries Co., Ltd. in Japan. As part of the acquisition, Asahi and Eurofins will enter into an exclusive supplier contract for a period of 3 years. The transaction is expected to close by the end of May.
EAC provides environment testing services nationwide, with a strong competence in water and dioxin testing, and is one of the leading laboratories in the Northern Kanto region of Japan. Established in 1972, EAC employs about 70 staff and generates revenues of about EUR 5m.
The acquisition of EAC reinforces Eurofins' local footprint, as well as its platform to further deploy the Group's analytical expertise, especially in water and dioxin testing. With a leading position in Radioactive Material Analysis following the acquisition of Nihon Kankyo (2012) and Nihon Soken (2015), the acquisition of EAC should allow Eurofins to also strengthen its service offering in water and dioxin testing. Furthermore, EAC's site location is a strong geographic fit with Eurofins' existing presence in the Southern Kanto region. Therefore the operational and geographic fit of this acquisition should allow the Group to become a reference laboratory for environment testing in Japan.
According to Eurofins CEO Gilles Martin, "EAC is a good strategic fit to the Group's existing activities in Japan. This acquisition reinforces the Group's growing Asia Pacific footprint, and is a further demonstration of our commitment in the region. We look forward to giving EAC access to the full capabilities of the Eurofins network."