GBA Group has recently announced that it has bought a significant stake in the food and pharma testing startup, Eureka Analytical Services Pvt. Ltd.
With this acquisition, GBA Group has marked its entry into the Indian market, which is also one of the key elements of its growth strategy, since India’s rapid, dynamic and future-oriented development as an international business hub as well as its geographical location offers tremendous potential for growth in various business areas.
Eureka is one of the fastest growing providers of testing, inspection and auditing services for food, agricultural commodities, feed, nutraceuticals, pharmaceuticals and environment in India. Incorporated in 2019, Eureka commenced operations in early 2020 and in a short span of less than four years has built a national network of nine labs, five of which are fully accredited labs.
“Entering the Indian market together with such a professional, growing and successful company like Eureka increases the win-win aspect for both of us. This move secures significant scale potential over the next decade for GBA Group and opens up various growth opportunities such as further expansion towards the Asian market. It also enables us to tap into the enormous potential of the Indian pharmaceutical and medical device markets,” illustrates Steffen Walter, CEO, GBA Group.
“Joining forces with Eureka opens up 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,” states Ole Borchert, EVP Food, GBA Group.
“We are proud to become a member of GBA Group and want to continue our successful partnership, which has shown that we are very good at promoting and leveraging each other’s competencies. We will further strengthen our presence in the international food market by expanding broad offering to an extended international customer network. Within our strengthened partnership we will also force our market entry in new business areas and expand the GBA Group network via Eureka in fields like pharma, medical devices and agrochemicals,” explain Sanjeev Khatri and Dr. Gouri Satpathy, Eureka Analytical Services.