Part of Thermo Fisher Scientific
12 February 2004
BUSINESS AS USUAL AT OXOID UNDER NEW PARENT
Oxoid Ltd, one of the world’s leading manufacturers of culture media and diagnostic products will be acquired by Fisher Scientific International.
Microbiology specialist, Oxoid Ltd was acquired by PPM Ventures Ltd in 2000 following a secondary buyout from Cinven . Definitive agreements were reached this week for Fisher Scientific International to acquire Oxoid for £177.5m.
Under their new ownership Oxoid Ltd will continue to operate as a distinct company within the Fisher group of companies and the Oxoid brand, which is recognised and trusted worldwide, will remain. The company’s main manufacturing and administration site will remain in Basingstoke, UK and their existing network of subsidiaries in Europe, Australia, South America and Canada will be strengthened by Fisher’s capabilities in the USA.
"Over the last few years we have invested in all of our manufacturing sites in the UK, Germany, Canada, Australia, made two acquisitions and expanded our sales infrastructure", comments Mike Smith, CEO, Oxoid. "Fisher Scientific recognised that Oxoid is a highly successful company, whose people and products are complementary to their existing life sciences product portfolio. Through our new parent, the programme of investment will continue and Oxoid will seek further opportunities for growth. This is an exciting time for our employees and microbiology laboratory customers worldwide as we continue to develop an ever expanding portfolio of products", he concludes.