-
Broadens Analytical Instruments Portfolio for Food and Agricultural
Markets
-
Strengthens Food Quality Analysis Capabilities
-
Expands Global Footprint for Environmental Health Offerings
WALTHAM, Mass.--(BUSINESS WIRE)--
PerkinElmer,
Inc., (NYSE:PKI), a global leader focused on improving the health
and safety of people and the environment, today announced that it has
entered into a definitive agreement to acquire Perten
Instruments Group AB. Based in Stockholm, Sweden, Perten is a
leading global supplier of advanced analytical instruments for quality
control of food, grain, flour and feed. The acquisition is expected to
significantly expand PerkinElmer's presence in the rapidly growing area
of food testing.
"The combination of Perten's unique capabilities with PerkinElmer's
portfolio of innovative analytical instruments will enable us to further
penetrate the multi-billion dollar global food testing market, including
longer-term opportunities in higher growth regions such as China," said
Jon DiVincenzo, President, Environmental Health, PerkinElmer.
"PerkinElmer will now be firmly positioned to help customers address
rigorous regulations for food quality control, import/export product
testing, and the need to preserve the integrity of global supply chains."
By adding Perten's analysis platforms, along with its leading food
quality calibration database, PerkinElmer will build upon its broad
offerings for food safety and quality testing throughout the development
and manufacturing processes. PerkinElmer's comprehensive solution will
include detection capabilities, materials characterization and deterrent
tools for chemicals, toxins and nutrients, along with analytics and data
management.
The net purchase price of the transaction is approximately $266 million
and is subject to customary closing conditions. The transaction is
currently anticipated to close in December 2014. With annual revenues of
approximately $65 million, Perten is expected to have a minimal impact
on PerkinElmer's 2014 non-GAAP earnings per share results. The Company
currently expects the transaction to be approximately $0.04 accretive to
its 2015 non-GAAP EPS results, however the Company will formally
communicate its 2015 financial guidance in January 2015.
About PerkinElmer, Inc.
PerkinElmer, Inc. is a global leader focused on improving the health and
safety of people and the environment. The Company reported revenue of
approximately $2.2 billion in 2013, has about 7,600 employees serving
customers in more than 150 countries, and is a component of the S&P 500
Index. Additional information is available through 1-877-PKI-NYSE, or at www.perkinelmer.com.
Factors Affecting Future Performance
This press release contains "forward-looking" statements within the
meaning of the Private Securities Litigation Reform Act of 1995,
including, but not limited to, statements relating to estimates and
projections of future earnings per share, cash flow and revenue growth
and other financial results, developments relating to our customers and
end-markets, and plans concerning business development opportunities and
divestitures. Words such as "believes," "intends," "anticipates,"
"plans," "expects," "projects," "forecasts," "will" and similar
expressions, and references to guidance, are intended to identify
forward-looking statements. Such statements are based on management's
current assumptions and expectations and no assurances can be given that
our assumptions or expectations will prove to be correct. A number of
important risk factors could cause actual results to differ materially
from the results described, implied or projected in any forward-looking
statements. These factors include, without limitation: (1) markets into
which we sell our products declining or not growing as anticipated; (2)
fluctuations in the global economic and political environments; (3) our
failure to introduce new products in a timely manner; (4) our ability to
execute acquisitions and license technologies, or to successfully
integrate acquired businesses and licensed technologies into our
existing business or to make them profitable, or successfully divest
businesses; (5) our failure to adequately protect our intellectual
property; (6) the loss of any of our licenses or licensed rights; (7)
our ability to compete effectively; (8) fluctuation in our quarterly
operating results and our ability to adjust our operations to address
unexpected changes; (9) significant disruption in third-party package
delivery and import/export services or significant increases in prices
for those services; (10) disruptions in the supply of raw materials and
supplies; (11) the manufacture and sale of products exposing us to
product liability claims; (12) our failure to maintain compliance with
applicable government regulations; (13) regulatory changes; (14) our
failure to comply with healthcare industry regulations; (15) economic,
political and other risks associated with foreign operations; (16) our
ability to retain key personnel; (17) significant disruption in our
information technology systems; (18) our ability to obtain future
financing; (19) restrictions in our credit agreements; (20) our ability
to realize the full value of our intangible assets; (21) significant
fluctuations in our stock price; (22) reduction or elimination of
dividends on our common stock; and (23) other factors which we describe
under the caption "Risk Factors" in our most recent quarterly report on
Form 10-Q and in our other filings with the Securities and Exchange
Commission. We disclaim any intention or obligation to update any
forward-looking statements as a result of developments occurring after
the date of this press release.
Investor Relations:
Tommy J. Thomas, 781-663-5889
tommy.thomas@perkinelmer.com
or
Media:
Brian
Willinsky, 781-663-5728
brian.willinsky@perkinelmer.com
Source: PerkinElmer, Inc.
News Provided by Acquire Media