Meridian Bioscience confirmed the completion of a $23.3 million cash acquisition of molecular biology reagents firm Bioline. Headquartered in the U.K., Bioline has subsidiaries in Germany, Australia, and the U.S. as well as a distributor network in over 30 countries.
The acquired firm specializes in the large-volume production of nucleotides, DNA polymerase enzymes, and other core reagents and expects 2010 revenues to exceed $12 million. With a portfolio of over 300 reagents and kits for molecular biology, cell analysis, and nucleic acid or protein separation and purification, Bioline also claims to be one of the few manufacturers of ultrapure dNTPs. It offers bulk, custom, and OEM dNTP services for large-scale use or for firms looking to distribute Bioline dNTPs under their own label.
Meridian says the acquisition will pad its own life science product line and provide proprietary know-how in the field of high-volume production of nucleotides and PCR enzymes. “Bioline will provide a rapidly expanding portfolio of highly specialized molecular biology reagents,” remarks Richard L. Eberly, Meridian’s president and evp. “Bioline will also add key global operations and direct sales capabilities in the U.K., Germany, and Australia to complement Meridian’s strong U.S. capabilities."
The firm says that the acquisition of Bioline is expected to be accretive to its earnings in late 2011.CEO, Jack Kraeutler, says Meridian will meanwhile also be on the lookout for new alliances and acquisition possibilities.