International life sciences company GBA Group has made a significant strategic move by acquiring a substantial stake in Eureka Analytical Services Pvt Ltd (Eureka), a rapidly growing testing lab and inspection service provider based in India. With this acquisition, Eureka becomes an official member of the GBA Group, marking the company’s entry into the Indian market.

Founded in 2019, Eureka has quickly established itself as a key player in testing, inspection, and auditing services for various industries, including food, pharmaceuticals, agricultural commodities, cosmetics, and the environment. The company has built a national network of nine labs, with five of them being fully accredited, showcasing its commitment to quality and compliance.

The investment from GBA Group signifies a strategic partnership aimed at capitalizing on the growth opportunities in the food, pharmaceutical, and environmental testing market in India. The move aligns with GBA Group’s vision to expand its global footprint and explore the potential of the Indian market, which is currently estimated at INR 1,800-2,000 crores, with a growth rate of approximately 12% per annum in the food Testing, Inspection, and Certification (TIC) segment.

Steffen Walter, CEO of GBA Group, expressed enthusiasm about the collaboration, stating, “Entering the Indian market together with such a professional, growing, and successful company like Eureka increases the win-win aspect for both parties. This move secures significant scale potential over the next decade for GBA Group and opens various growth opportunities such as further expansion towards the Asian market.”

Eureka’s strategic plans include expanding its network to 15 labs in India and overseas within the next two years. With GBA as a shareholder, Eureka aims to strengthen its position in the international food market by leveraging its expanded offerings to its global customer network. The collaboration is expected to enhance Eureka’s testing platforms, facilitate growth in India and key international markets, and bolster its research and development efforts, particularly in the pharmaceutical segment.

Ole Borchert, EVP Food at GBA Group, highlighted the potential for global collaboration in the food supply chain, stating, “Joining forces with Eureka opens further opportunities for us in the global food supply chain. We will be able to offer our international customers one-stop-shop solutions and further increase our focus on the food export and import market, and thus on high-growth food verticals, especially plant-based foods.”

Sanjeev Khatri, CEO, and Dr. Gouri Satpathy, Executive Director, and Co-founders of Eureka, expressed pride in becoming a member of GBA Group and emphasized their commitment to continuing a successful partnership. They outlined their plans to strengthen Eureka’s presence in the international food market, expand their offerings to a broader international customer network, and explore new business areas in collaboration with GBA Group.

In addition to its focus on the food sector, the strengthened partnership aims to explore opportunities in pharmaceuticals, medical devices, and agrochemicals. The co-founders of Eureka emphasized the synergies between the two companies and their ability to promote and leverage each other’s competencies.

As part of the collaboration, GBA Group and Eureka are set to enter new business areas and expand their network, showcasing the potential for growth and innovation in the life sciences and testing industry. The partnership is expected to have a significant impact on both companies’ capabilities, offering comprehensive solutions to clients and contributing to the evolution of the testing and inspection landscape in India and beyond.

Overall, the acquisition of a stake in Eureka by GBA Group marks a strategic move that aligns with the broader trends in the life sciences and testing industry, emphasizing the importance of collaboration, global expansion, and the pursuit of excellence in testing services.

By Admin

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