UK-based microbiology specialist Oxoid was first acquired by PPM Ventures in 2000following a secondary buyout from Cinven. But definitive agreements werereached this week for US-based Fisher Scientific International to acquire Oxoid for£177.5 million (€262.5m).
Fisher Scientific is a $3.6 billion manufacturer and distributor of productsto the scientific research, clinical laboratory and safety markets which is listed on the New York Stock Exchange. The company's 10,000 employees located in approximately 145 countries.
Oxoid said that it would continue to operate as a distinctcompany within the Fisher group of companies and that the Oxoid brand would be retained. The company added that its mainmanufacturing and administration site would also remain in Basingstoke, UK andits existing network of subsidiaries in Europe, Australia, South Americaand Canada would be strengthened by Fisher's capabilities in the US.
"Over the last few years we have invested in all of our manufacturing sitesin the UK, Germany, Canada, Australia, made two acquisitions and expandedour sales infrastructure," commented Mike Smith, CEO, Oxoid. "Through our new parent, the programme of investment willcontinue and Oxoid will seek further opportunities for growth."