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Ecolab makes binding offer to acquire French healthcare and hygiene business, Anios
Ecolab has made a binding offer to acquire Laboratoires Anios from co-owners Bertrand and Thierry Letartre and private investment company Ardian.
Anios manufactures and markets hygiene and disinfection products for the healthcare, food service, and food and beverage processing industries. Based in Lille, France, it has a presence in more than 85 countries and employs approximately 700 people worldwide. Sales were approximately €220 million ($245 million) in 2015.
The transaction is structured as a binding offer with exclusivity protection to allow the sellers to consult with their French works councils prior to entering into the definitive purchase agreement. Once the definitive agreement is executed, the transaction would remain subject to clearance by applicable regulatory and competition authorities prior to closing. The transaction is expected to close in late 2016, subject to satisfaction of such contingencies. No other details were announced.
Douglas M. Baker, Jr., Ecolab chairman and chief executive officer, explains: "Ecolab is committed to being the global leader in providing hospitals and healthcare operators with effective and innovative solutions for infection prevention and hygiene.
"We are excited to join forces with Anios because of our shared passion for this mission. Its innovative product line expands the solutions we can offer while also providing a complementary geographic footprint. Its presence in the food and beverage processing and foodservice markets also complements ours.
"We are pleased that CEO Bertrand Letartre and managing director Thierry Letartre have agreed to remain with our combined organisation providing continued leadership of the acquired business."
Bertrand Letartre and Thierry Letartre commented, saying: "We are very pleased to have the opportunity to partner with Ecolab. The strength of the Anios brand combined with Ecolab's global footprint and leadership positions will help accelerate the growth of our business. It will also create new and exciting career opportunities for our employees and bring innovative solutions to our customers."
30th June 2016