Company Acquisition: VWE International and United Biochemicals
On July 2, VWE International announced that it acquired United Biochemicals, but didn’t disclose the deal price.
During last year, VWR acquired six labs outside of America, including Vitrium, Sovereign Group,Lab3, Labonord and Switch.
VWR finished last year with net income of $3.8 million, down from $57.7 million in 2011, on net sales that dipped 0.8% to $4.13 billion. The company cited a series of acquisitions, higher charges due to cost-cutting that included the shutdown of a regional distribution center in Brisbane, CA; and an $82 million (3.4%) decline in net sales from comparable operations in the North American lab segment.
Both sides give positive comments on the acquisition. By the deal, VWE International further expands its global product lines.