Bureau Veritas Group and New Zealand state-owned-enterprise AsureQuality, have entered into an agreement for the purchase of Dairy Technical Services (DTS) an Australian market leader in the provision of food testing services.
Bureau Veritas Group CEO Didier Michaud Daniel says, “Bureau Veritas recognises the strength of the DTS business which, by contracting with Australia’s largest dairy processors and food companies, gives an excellent foot print for our entry into the food testing market in Australia.
“Partnering with AsureQuality, which previously owned 25.4% of DTS, ensures we maintain the technical excellence and customer focus that has driven DTS’ success.”
AsureQuality CEO John McKay says, “This acquisition is an important strategic move for AsureQuality in building our capability and better servicing the needs of our customers.
“Partnering with Bureau Veritas, a global leader in testing, inspection and certification which is looking to increase its interests in the food service business, 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.
Bureau Veritas was advised by Miles Advisory Partners, AsureQuality was advised by Cameron Partners Ltd and Bell Gully, and King & Wood Mallesons provided legal advice to the purchasers. Deloitte advised on financial due diligence.