AsureQuality to acquire Dairy Technical Services

AsureQuality reaches agreement to acquire Dairy Technical Services with Bureau Veritas

New Zealand state-owned-enterprise AsureQuality, and French publicly listed company Bureau Veritas Group have entered into an agreement for the purchase of Dairy Technical Services (DTS).

AsureQuality currently holds a 25.4% shareholding in DTS, Australia’s leading provider of microbiological and chemical laboratory testing to the food and dairy industries.

AsureQuality CEO John McKay says it is an important strategic move for AsureQuality in building its capability and better servicing the needs of its customers.

“DTS is the market leader in Australia, contracting with Australia’s largest dairy processors and food companies, and this investment continues to strengthen our relationships with trans-Tasman customers.
“Following the acquisition, AsureQuality will have market leadership positions in both New Zealand and Australia, and this strengthens our credentials as a global expert in dairy testing.
“Bureau Veritas is a global leader in testing, inspection and certification and is looking to increase its interests in the food service business. Partnering with Bureau Veritas will strengthen both parties’ capacity to help our clients meet the growing challenges of quality and safety in the food supply chain.”

The agreement is subject to pre-completion conditions typical for a transaction of this nature.

AsureQuality was advised by Cameron Partners Ltd and Bell Gully, Bureau Veritas was advised by Miles Advisory Partners, and King & Wood Mallesons provided legal advice to the purchasers. Deloitte advised on financial due diligence.

ENDS

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