CHARLES RIVER LABORATORIES INTERNATIONAL, INC. acquired MPI Research for approximately $800 million in cash, a transaction completed in April 2018, structured as all cash.
MPI Research operates in Discovery and Safety Assessment (DSA), is based in United States (Mattawan, Michigan). MPI Research was a premier non-clinical contract research organization providing safety assessment, discovery, and bioanalytical services, with a large site in Mattawan, Michigan.
Acquiring MPI will enhance Charles River's position as a leading global early-stage CRO by strengthening its ability to partner with clients across the drug discovery and development continuum.
Access to growing end markets, high-quality services, scientific expertise, and complementary capabilities Expected non-GAAP EPS accretion of approximately $0.25 in 2018 and approximately $0.60 in 2019 Discovery and Safety Assessment (DSA) segment
In addition to meeting our disciplined acquisition criteria, MPI is an exceptional strategic fit for Charles River because it incorporates the key attributes we require in an acquisition: access to growing end markets, high-quality services, scientific expertise, and complementary capabilities.James C. Foster, Chairman and Chief Executive Officer, Charles River Laboratories
We believe that the acquisition of MPI will generate value for shareholders, driving profitable revenue growth and non-GAAP earnings per share accretion of approximately $0.25 in 2018 and approximately $0.60 in 2019.James C. Foster, Chairman and Chief Executive Officer, Charles River Laboratories
Advisory firms were not disclosed for this transaction.