King & Wood Mallesons (KWM) has advised New Zealand state-owned-enterprise, AsureQuality, and French publicly listed company, Bureau Veritas Group on the purchase of the Australian food testing provider, Dairy Technical Services (DTS) which remains subject to regulatory approval.

Bureau Veritas Group is a global leader in testing, inspection and certification services across a range of industries.

AsureQuality currently holds a 25.4% shareholding in DTS, Australia’s leading provider of microbiological and chemical laboratory testing to the food and dairy industries.

Founded in 1954 in Melbourne to provide independent, analytical services to the food industry, this transaction reflects the exit in DTS by dairy producer shareholders, Murry Goulburn, the Warrnambool Cheese and Butter Group, the Fonterra Group and AsureQuality.

Following completion of the acquisition, DTS will be operated by the Consortium of Bureau Veritas and AsureQuality who bring extensive international food testing experience to DTS to provide best-in-class testing capabilities to Australian food manufacturers.

The KWM team was led by partner Peter Stirling, supported by senior associate Robert Wright and solicitor Michelle Siekierka.

Commenting on the deal, KWM partner Peter Stirling said, “We are delighted to support our clients on this significant acquisition. The quality of Australian food products is highly regarded and this deal reflects the growing importance of the Australian food industry internationally.”