Partnership paves way for creation of Australia’s largest food testing laboratory
AsureQuality’s Melbourne based food laboratory operations have entered into a strategic partnership with Dairy Technical Services Limited (DTS), creating the single largest independent food testing laboratory in Australia.
DTS Food Laboratories Chief Executive Graeme Richardson and AsureQuality Chief Executive Tony Egan announced the deal together last week, highlighting that the partnership was built on sound business acumen. “The consolidation is a great outcome, it strengthens our alignment with our Australian customers and allows us the opportunity to leverage off the strengths of both previous organisations to create greater efficiency and capability,” said Mr Richardson. “I’m also delighted that it will provide greater opportunities for our staff, with a combined team of around 200 people now working for the expanded organisation.”
New Zealand based AsureQuality is the most accredited provider of independent auditing, inspection and testing services to the food and agricultural sectors in the Southern Hemisphere with all their operations in New Zealand and Australia. DTS Food Laboratories, owned by members of the food industry in Australia, provides food testing services and have been in operation for over 50 years.
As part of the strategic partnership agreement, AsureQuality will sell part of its Australian business to DTS and in return gain a significant minority shareholding in DTS, joining the likes of Fonterra, Murray Goulburn, and other major Australian dairy companies as shareholders in the company.
Both companies signalled their intentions to grow the relationship between the two companies following the deal, with the aim of providing a range of testing and assurance services across the primary production value chain that offer a better service to Australian customers.
The new business will trade as DTS Food Laboratories with Mr Richardson remaining as Chief Executive Officer.