VWR Buys Chinese Distributor
On its second-quarter conference call, VWR stated that the acquisition was funded by cash and said that the purchase will now allow it to benefit more fully from growth in Asia. The company also explained that LabPartner provides VWR with chemical storage warehouses in China and a Chinese staff that is based throughout the country.
Radnor, PA 8/4/11—VWR International announced it has acquired LabPartner (Shanghai), a Chinese provider of lab equipment, reagents, consumables and services for the pharmaceutical and biopharmaceutical industries, with a focus on chemical distribution. Financial details were not disclosed. “VWR’s acquisition of LabPartner strengthens our position in China by increasing our scale, geographic reach and supplier offerings to our customers,” commented Eddy Wu, VWR senior vice president and president of Asia Pacific. The acquisition is subject to customary closing conditions and Chinese regulatory approval.
