LabCorp acquires Safe Foods International Holdings to develop new food products

Laboratory Corporation of America Holdings (LabCorp) has bought Safe Foods International Holdings (SFIH) as part of its efforts to develop new food and beverage products and bolster its food testing services.

The acquisition includes SFIH’s two operating companies; International Food Network (IFN) and the National Food Laboratory (NFL).

Transaction value and other terms of the deal have not been disclosed.

Commenting on the deal, LabCorp chairman and CEO David P King said: "We identified nutritional chemistry and food safety as an exciting growth opportunity for our company immediately after the acquisition.

"International Food Network and The National Food Laboratory represent our first major expansions in this important area, and we are delighted that these high-quality companies and their outstanding teams are joining our company.

"With this acquisition, we extend our capabilities to offer a full range of product-development and product-integrity services to food and beverage manufacturers and retailers, industry organisations, and academic institutions."

With the latest purchase, LabCorp is building on the services offered by its Nutritional Chemistry and Food Safety unit of Covance, a nutritional analysis firm acquired by LabCorp in February for $6.2bn.

IFN and NFL will become part of the Nutritional Chemistry and Food Safety unit. SFIH purchased International Food Network in January.

SFIH president Johannes Burlin said: "This was the right time, and the right partner, for our business to become part of a larger organisation.

"We are excited to join Covance, and we look forward to the opportunities our combination will create for customers as we expand our global business."

National Food Lab provides "creative, practical and science-based insights to solve food safety, quality, and product and process development challenges for food and beverage companies."

It has two facilities in Livermore, California.

International Food Network has offices in Ithaca, New York, Naples, Florida, and Reading.