Friday 23rd March 2012
|Text too small?|
Hill Laboratories, specialists in agricultural, environmental and food testing, has agreed to buy the Cawthron Institute’s Marlborough wine testing laboratory in what is described as a “multi-million dollar deal.”
The Cawthron Institute, researchers of coastal and freshwater systems, will transfer the operation of its Marlborough lab to Hill Laboratories in June following due diligence, it said in a statement. Nelson-based Cawthron’s environmental chemistry testing programme is also included in the sale. No price was disclosed.
“It is a pretty significant multi-million dollar deal,” said Martin Lovell a spokesperson for Hill Laboratories told BusinessDesk. “The Marlborough lab has about five to six people in it – it is predominately a wine lab which is one of the reasons we are interested in it.”
Hill Laboratories recently opened a new wine lab in Christchurch, launching its Vine to Vintage wine testing service.
The Marlborough lab is already export testing certified and fits well with our plans to expand further into the wine market, Hill said in a statement.
No comments yet
MARKET CLOSE: NZ shares edge lower; power companies under pressure
NZ dollar rises as bets on another OCR cut fade
Broad-based manufacturing pick-up offers silver lining
Global economic outlook not as dark as in August: RBNZ
NZ dollar slips on slew of weak global data, lack of US-China progress
MARKET CLOSE: NZ shares recover as investors re-think RBNZ review
NZ dollar falls on weak Aussie jobs numbers, poor China data
Govt media plan won't weaken commercial players - TVNZ
Goodman trust's 1H net profit quadruples on unrealised property gains
Regional house price inflation accelerates in October