Entering the Indian market with this deal, GBA Group plans to further invest over the next few years in the Testing-Inspection-Certification (TIC) Industry in India
International life sciences company, GBA Group has acquired a significant stake in Eureka Analytical Services Pvt Ltd (Eureka), one of India‘s fastest-growing testing labs and inspection service providers. Eureka now become an official member of GBA Group. This investment marks the entry of the GBA Group in India. Starting with this investment, GBA will continuously seek opportunities for further investment in India’s food, pharma and environment testing market. Currently, the food TIC market in India is estimated at INR 1,800-2,000 crores, growing at ~12 per cent per annum.
With GBA as a shareholder, Eureka aims to strengthen its presence in the international food market by extending its offerings to its international customer network. Eureka will continue to upgrade and scale its testing platforms to grow its footprint in India and key markets overseas and strengthen its R&D efforts, while simultaneously engaging with customers in the pharmaceutical segment.
Commenting on the investment, Steffen Walter, CEO of GBA Group, said, “Entering the Indian market together with such a professional, growing, and successful company like Eureka increases the win-win aspect for both parties. This move secures significant scale potential over the next decade for GBA Group and opens 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.”