Intertek acquires Food International Trust (FIT-Italia) in Italy
18 Dec 2015
Intertek expands assurance services to the retail and agricultural sectors in Italy with the acquisition of Food International Trust
Intertek Group plc ("Intertek"), a leading quality solutions provider to industries worldwide announces that it has agreed to acquire Food International Trust ("FIT-Italia"), an Italian company specialising in providing assurance services to the retail and agricultural sectors through food quality and safety assessments.
FIT-Italia provides a wide range of assurance, testing and certification services, and is an accredited inspection body and test laboratory in both food and microbiology with well established relationships with many of Italy's largest retailers. To date, FIT-Italia is also the only Italian company accredited to deliver the IFS Food Store Inspection program, an initiative developed by retailers and recognised by the Global Food Safety Initiative (GFSI). Complementing Intertek's existing assurance and testing services, the acquisition will give our customers access to a full service portfolio that includes supplier management, auditing, certification, point of sales inspection, labelling validation, training, regulatory consulting, product risk assessment and shelf life studies, as well as laboratory testing.
With its multiple accreditations and competencies, scientific expertise and best in class customer tools and processes, FIT-Italia will support Intertek's growth strategy in assurance services for the food market. Combining FIT-Italia with Intertek's international food offering, will provide local and global customers with a compelling proposition to support their supply chain efficiency and compliance needs whilst gaining competitive advantage and demonstrating due diligence in food safety.
Founded in 2007 and privately owned, FIT-Italia employs 15 people across two facilities located in Bergamo and Fermo. The business generated revenues of around EUR2 million in 2014. The acquisition is expected to close in January 2016.
Commenting on the acquisition, André Lacroix, Chief Executive Officer of Intertek, said: "The acquisition of FIT-Italia and its complementary assurance services will strengthen Intertek's market position in quality solutions to the food sector, a sector which is growing rapidly in Italy and internationally. With its key accreditations, leading competencies and strong track record of customer service delivery, we are delighted to welcome FIT-Italia and its excellent team to Intertek."
Contacts
Intertek Investor Relations
Telephone: +44 (0) 20 7396 3400
investor@intertek.com
Jonathon Brill, FTI Consulting
Telephone: +44 (0) 20 3727 1068
Jonathon.brill@FTIConsulting.com
About Intertek
Intertek is a leading quality solutions provider to industries worldwide. From auditing and inspection, to testing, training, advisory, quality assurance and certification, Intertek adds value to customers' products, processes and assets. With a network of more than 1,000 laboratories and offices and over 38,000 people in more than 100 countries, Intertek supports companies' success in a global marketplace. Intertek helps its customers to meet end users' expectations for safety, sustainability, performance, integrity and desirability in virtually any market worldwide. Visit www.intertek.com
Intertek Group plc (LSE: ITRK) is listed on the London Stock Exchange and is a constituent of the FTSE 100 index.