NEWS IN BRIEF
Eurofins expands Asia footprint with acquisition of South Korea's Lab Frontier
Lab Frontier, an affiliate company of Young In Group (YIG), will now operate as part of Eurofins’ network of laboratories.
The firm has been certified by the Korean Laboratory Accreditation Scheme (KOLAS) and by the Korean Food and Drug Administration (KFDA) for testing cosmetics and livestock.
It is also accredited by the National Institute of Environmental Research (NIER) as a certified analytical laboratory for drinking water, dioxins, polychlorinated biphenyls (PCBs) and waste analysis.
The company is located in Anyang, close to Seoul. It employs 40 staff and generated revenues of more than US$3.5m in 2017.
Eurofins said the acquisition provides a valuable entry into the analytical testing market in South Korea.
CEO Dr Gilles Martin said: “We are pleased to welcome Lab Frontier to Eurofins’ family of businesses. The acquisition of Lab Frontier will reinforce the Groups’ growing footprint in Asia Pacific, and is another sign of our strong commitment to this region.
"As a result of this acquisition, Lab Frontier will gain access to the full range of services and capabilities of the Eurofins network, allowing them to significantly expand their analytical services offering to the benefit of their clients in South Korea and abroad.”
The firm has been on a buying spree over the past year, spending around EUR1.5bn to snap up around 60 labs.
