Campbell Bros expands into food testing via acquisition

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Share market darling Campbell Brothers is expanding its food testing operations with a $39 million acquisition in the United Kingdom and Ireland.

Campbell Brothers primarily provides laboratory services to the mining sector, and its shares have soared by more than 60 per cent in the last six months.

The purchase of two food testing businesses would accelerate its development of a global food and pharmaceutical testing business, managing director Greg Kilmister said on Monday.

The company has bought Eclipse Scientific Group and Advanced Micro Services (AMS) businesses from Environmental Scientifics Group.

Eclipse provides testing for manufacturers, food processors and retailers in the UK, while AMS provides similar services in Ireland.

The businesses will be included in Campbell Brothers’ newly-formed life sciences division, the company said.

Campbell Brothers has forecast profit growth of up to 66 per cent, to $220 million, in the current year.

Its shares were up 72 cents, or 1.2 per cent, at $62.50 at 1240 AEDT.