Mérieux NutriSciences is adding Peugeot Invest and Continental Grain Company, or Conti, as strategic minority shareholders to help finance its planned acquisition of Certified Group and support the food testing company’s next phase of international growth.
The investments remain subject to customary regulatory approvals. Financial terms were not disclosed.
Institut Mérieux will remain the majority owner, while existing long-term shareholders, including Sofina and Dassault Group, are continuing their support.
Peugeot Invest and Conti are expected to receive representation on the Mérieux NutriSciences board after the Certified Group transaction closes.
Certified Group generates approximately $300 million in revenue and operates 31 laboratories across North America.
Its acquisition will expand Mérieux NutriSciences in the North American food testing, inspection and certification market, which the company estimates at more than $2.5 billion.
The deal will also strengthen the company’s laboratory footprint, allowing it to provide more localized and time-sensitive testing services.
Certified brings additional expertise across animal protein, dairy and packaged foods along with adjacent categories including cosmetics, health supplements, over-the-counter drugs and reduced-harm nicotine products.
Mérieux NutriSciences sees the combination as part of a strategy to create a larger global platform spanning scientific testing, regulatory expertise and customer services.
For Peugeot Invest and Conti, the transaction creates exposure to the testing, inspection and certification industry, where demand is supported by regulatory requirements and increasing expectations around food safety and quality.
Conti also brings more than two centuries of experience investing in and operating businesses across food and agriculture.
KEY QUOTES:
“We are delighted to partner with Institut Mérieux to support Mérieux NutriSciences in this new phase of growth in North America.”
Jean-Charles Douin, CEO of Peugeot Invest
“Mérieux NutriSciences has built a preeminent TIC platform, rooted in scientific excellence, deep technical expertise, and trusted customer relationships.”
Ari Gendason, Co-CEO of Conti
“Their investment marks an important step in our development and reinforces our ability to execute our long-term growth ambitions.”
Alexandre Mérieux, Chairman of Mérieux NutriSciences
