Bureau Veritas, a global leader in testing, inspection, and certification services, has announced the sale of its food testing division to Mérieux NutriSciences in a deal worth €360 million. The transaction, which reflects Bureau Veritas’ strategy to refine its portfolio, marks a significant step in the company’s LEAP | 28 plan, aiming to secure leadership in key markets by 2028.
The sale, which generated €133 million in revenue for Bureau Veritas in 2023, aligns with its goal of focusing on sectors where it can achieve top performance and leadership positions. The agreement is expected to generate around €290 million in net proceeds, which will support the company’s plans for accelerated mergers and acquisitions under its LEAP | 28 strategy.
Hinda Gharbi, CEO of Bureau Veritas, described the sale as part of the company’s broader strategy to strengthen its financial position and enhance its focus on strategic sectors. “This divestment demonstrates our active portfolio management, in line with the Focused Portfolio pillar of our strategic plan. The transaction strengthens our balance sheet and gives us greater leeway to implement our ambitious acquisition plan,” said Gharbi.
She added that Mérieux NutriSciences, a leader in food testing, is well-suited to take over the business, with both companies sharing a common goal of contributing to safer, healthier, and more sustainable food systems. “We are pleased to partner with Mérieux NutriSciences, whose global footprint and proven expertise is the perfect fit for our food business,” she said.
The food testing division currently operates a network of 34 laboratories spread across the Americas, Africa, Asia, and the Pacific. It provides key services to customers in the food sector, including microbiology testing and chemical analysis, with a workforce of over 1,900 employees.
The sale will allow Mérieux NutriSciences to significantly expand its global reach, with CEO Nicolas Cartier highlighting the opportunity to increase the company’s presence across every continent. “This acquisition marks a pivotal milestone for Mérieux NutriSciences, consolidating our strong geographic coverage and enhancing our ability to serve customers,” Cartier stated. He added that the deal would reinforce their mission to promote the safety, quality, and sustainability of global food systems.
After the transaction is finalised, the 1,900 employees from Bureau Veritas’ food testing division will join Mérieux NutriSciences, strengthening the company’s workforce and capabilities. The acquisition aligns with Mérieux NutriSciences’ commitment to its overarching purpose: “Better Food. Better Health. Better World.”
The deal is expected to slightly improve Bureau Veritas’ adjusted operating margin and will be neutral on its attributable adjusted net profit from 2025 onwards. The funds generated by the sale will primarily be used to fuel Bureau Veritas’ acquisition plans as it looks to grow in key strategic areas.
The transaction is set to close by the end of 2024, pending customary closing conditions and regulatory approval in certain regions. Both companies expressed optimism about the future, anticipating strong synergies and further opportunities for growth.
This sale is viewed as a win-win, with both Bureau Veritas and Mérieux NutriSciences positioned to enhance their focus on delivering safer, healthier, and more sustainable services within their respective industries.
