Charles River Laboratories has signed a binding offer to acquire Citoxlab for €448 (~$510mn). The proposed transaction is expected to close in the second quarter of 2019.
 
Citoxlab is a non-clinical contract research organization (CRO), specializing in regulated safety assessment services, non-regulated discovery services, and medical device testing. With operations in Europe and North America, the proposed acquisition of Citoxlab would further strengthen Charles River’s position as a global early-stage CRO by expanding its scientific portfolio and geographic footprint, which would enhance the company’s ability to partner with clients across the drug discovery and development continuum.
 
“The proposed acquisition of Citoxlab would expand and solidify Charles River’s position as the partner of choice for our clients’ early-stage research needs, at a time when we believe there continues to be significant demand for outsourced services from both biotechnology and pharmaceutical companies,” said James Foster, chairman, president and chief executive officer, Charles River. “Citoxlab would be an exceptional strategic fit for Charles River because it incorporates the key attributes we require in an acquisition: scientific expertise, complementary capabilities, talented people, and access to growing end markets. The proposed acquisition would also enhance our geographic footprint, particularly in Europe, and our access to a growing biotechnology client base, enabling Charles River to provide a broader range of services proximate to our clients—both large and small.”