AFP
Nicola Mira
Jan 8, 2020
SGS strengthens cosmetics testing capabilities with US lab’s acquisition
AFP
Nicola Mira
Jan 8, 2020
Swiss group SGS, specialised in inspection, verification, testing and certification services, has signed off on its first acquisition of the year. On Wednesday, SGS announced it has bought US laboratory Thomas J. Stephens & Associates, which will enable the Swiss group to strengthen its cosmetics testing expertise.
SGS regularly makes small, targeted acquisitions, and in a press release it indicated that Thomas J. Stephens & Associates, based in Richardson, Texas, has a staff of nearly 100 people and is specialised in effectiveness and safety testing for cosmetics and personal care products.
The Geneva-based group added that, in 2019, the laboratory founded by Thomas Stephens in 1989 generated a revenue of approximately $15 million (€13.4 million). The acquisition price was not disclosed.
The acquisition will enable SGS, which already operates laboratories in New Jersey, to strengthen its testing capabilities on cosmetics and personal care products in the USA.
At 8.36 am GMT, SGS’s share price was down 0.45% (to CHF2,627), as the SMI, Switzerland’s blue-chip index, was off to a weak start, losing 0.60%.
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