Jan 8, 2020
SGS strengthens cosmetics testing capabilities with US lab’s acquisition
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%.
Copyright © 2021 AFP. All rights reserved. All information displayed in this section (dispatches, photographs, logos) are protected by intellectual property rights owned by Agence France-Presse. As a consequence you may not copy, reproduce, modify, transmit, publish, display or in any way commercially exploit any of the contents of this section without the prior written consent of Agence France-Presses.