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Sanmina Reports Fourth Quarter and Fiscal 2024 Financial Results

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2 years ago

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SAN JOSE, Calif., Nov. 4, 2024 /PRNewswire/ — Sanmina Corporation (“Sanmina” or the “Company”) (NASDAQ: SANM), a leading integrated manufacturing solutions company, today reported financial results for the fourth quarter and fiscal year ended September 28, 2024 and outlook for its fiscal first quarter ending December 28, 2024.

Fourth Quarter Fiscal 2024 Financial Highlights

•    Revenue: $2.02 billion

•    GAAP operating margin: 4.4%

•    GAAP diluted EPS: $1.09

•    Non-GAAP(1) operating margin: 5.3%

•    Non-GAAP(1) diluted EPS: $1.43

Fiscal Year 2024 Financial Highlights

•    Revenue: $7.57 billion

•    GAAP operating margin: 4.4%

•    GAAP diluted EPS: $3.91

•    Non-GAAP(1) operating margin: 5.4%

•    Non-GAAP(1) diluted EPS: $5.28

Additional Highlights

•    Cash flow from operations: Q4 $52 million and FY’24 $340 million

•    Free cash flow(2): $29 million in Q4 and $231 million in FY’24

•    Share repurchases: 0.9 million shares for $65 million in Q4 and approximately 4.0 million shares for $227 million in FY’24 

•    Q4 ending cash and cash equivalents: $626 million

(1)

See Schedule 1 below for information regarding the items excluded from and our use of non-GAAP financial measures. A reconciliation of the non-GAAP financial information contained in this release to their most directly comparable GAAP measures is included in the financial statements furnished with this release.

(2)

See Condensed Consolidated Cash Flow Statement included in the financial statements furnished with this release.

“We finished the year with solid momentum. Our fourth quarter revenue was up 9.6 percent sequentially, and non-GAAP diluted earnings per share was up 14.3 percent over the prior quarter and exceeded our outlook. We saw growth in the majority of our end-markets, primarily with strength from the communications networks and cloud infrastructure,” stated Jure Sola, Chairman and Chief Executive Officer of Sanmina Corporation.

“Our fiscal year 2024 results were in line with our expectations as we managed a challenging first half with improvements in the second half of the year. While our revenue was impacted for the year, we delivered another solid year of cash flow from operations. Furthermore, we demonstrated our commitment to return value to our shareholders by repurchasing 4 million shares for $227 million in fiscal 2024.” 

“The team has done an excellent job navigating the market dynamics and the Company continues to demonstrate resilience. Based on the forecasts from our customers and currently healthy demand levels, we expect fiscal 2025 to be a growth year,” concluded Sola.

First Quarter Fiscal 2025 Outlook
The following outlook is for the fiscal first quarter ending December 28, 2024. These statements are forward-looking and actual results may differ materially. 

Revenue between $1.925 billion to $2.025 billionGAAP diluted earnings per share between $1.03 to $1.13Non-GAAP diluted earnings per share between $1.30 to $1.40

Safe Harbor Statement
The statements above including our financial outlook for the first quarter fiscal 2025 and expectations for growth in fiscal 2025 generally, constitute forward-looking statements within the meaning of the safe harbor provisions of Section 21E of the Securities Exchange Act of 1934. Actual results could differ materially from those projected in these statements as a result of a number of factors, including adverse changes to the key markets we target; significant uncertainties that can cause our future sales and net income to be variable; reliance on a small number of customers for a substantial portion of our sales; risks arising from our international operations; geopolitical uncertainty, including from the war in Ukraine and conflict in the Middle East; and the other risk factors set forth in the Company’s annual and quarterly reports filed with the Securities Exchange Commission.

The Company is under no obligation to (and expressly disclaims any such obligation to) update or alter any of the forward-looking statements made in this earnings release, the conference call or the Investor Relations section of our website whether as a result of new information, future events or otherwise, unless otherwise required by law.

Company Conference Call Information
Sanmina will hold a conference call to review its financial results for the fourth quarter and fiscal year 2024 and outlook for the first quarter of fiscal 2025 on Monday, November 4, 2024 at 4:30 p.m. ET (1:30 p.m. PT). The access numbers are: domestic 800-836-8184 and international 646-357-8785. The conference will also be webcast live over the Internet. You can log on to the live webcast at Q4’24 Earnings. Additional information in the form of a slide presentation is available on Sanmina’s website at www.sanmina.com. A replay of the conference call will be available for 48-hours. The access numbers are: domestic 888-660-6345 and international 646-517-4150, access code is 88946#.

About Sanmina
Sanmina Corporation, a Fortune 500 company, is a leading integrated manufacturing solutions provider serving the fastest growing segments of the global Electronics Manufacturing Services (EMS) market. Recognized as a technology leader, Sanmina provides end-to-end manufacturing solutions, delivering superior quality and support to Original Equipment Manufacturers (OEMs) primarily in the industrial, medical, defense and aerospace, automotive, communications networks and cloud infrastructure markets. Sanmina has facilities strategically located in key regions throughout the world. More information about the Company is available at www.sanmina.com.

Sanmina Contact
Paige Melching
SVP, Investor Communications
408-964-3610

 

Sanmina Corporation

Condensed Consolidated Balance Sheets

(in thousands)

(GAAP)

(Unaudited)

September 28,
2024

September 30,
2023

ASSETS

Current assets:

Cash and cash equivalents

$          625,860

$          667,570

Accounts receivable, net

1,337,562

1,230,771

Contract assets

384,077

445,757

Inventories

1,335,744

1,477,223

Prepaid expenses and other current assets

79,301

58,249

Total current assets

3,762,544

3,879,570

Property, plant and equipment, net

616,067

632,836

Deferred tax assets

160,703

177,597

Other

175,646

183,965

Total assets

$       4,714,960

$       4,873,968

LIABILITIES AND STOCKHOLDERS’ EQUITY

Current liabilities:

Accounts payable

$       1,485,484

$       1,612,833

Accrued liabilities

196,681

267,148

Accrued payroll and related benefits

133,129

127,406

Short-term debt, including current portion of long-term debt

17,500

25,945

Total current liabilities

1,832,794

2,033,332

Long-term liabilities:

Long-term debt

299,823

312,327

Other

220,835

209,684

Total long-term liabilities

520,658

522,011

Stockholders’ equity

2,361,508

2,318,625

Total liabilities and stockholders’ equity

$       4,714,960

$       4,873,968

 

Sanmina Corporation

Condensed Consolidated Statements of Income

(in thousands, except per share amounts)

(GAAP)

(Unaudited)

Three Months Ended

Twelve Months Ended

September 28,
2024

September 30,
2023

September 28,
2024

September 30,
2023

Net sales

$     2,017,505

$     2,052,019

$     7,568,328

$     8,935,048

Cost of sales

1,846,212

1,878,591

6,927,899

8,191,837

Gross profit

171,293

173,428

640,429

743,211

Operating expenses:

Selling, general and administrative

70,490

62,124

266,194

255,072

Research and development

8,243

7,715

28,514

26,427

Restructuring

2,970

4,323

10,227

6,054

Total operating expenses

81,703

74,162

304,935

287,553

Operating income

89,590

99,266

335,494

455,658

Interest income

2,799

3,910

12,440

13,595

Interest expense

(5,047)

(8,257)

(29,183)

(36,290)

Other expense

(564)

(8,168)

(1,216)

(20,156)

Interest and other, net

(2,812)

(12,515)

(17,959)

(42,851)

Income before income taxes

86,778

86,751

317,535

412,807

Provision for income taxes

19,438

21,396

79,784

85,294

Net income before noncontrolling interest

67,340

65,355

237,751

327,513

     Less: Net income attributable to noncontrolling interest

5,959

3,514

15,215

17,543

Net income attributable to common shareholders

$          61,381

$          61,841

$        222,536

$        309,970

Net income attributable to common shareholders per share:

Basic

$               1.12

$               1.08

$               4.00

$               5.36

Diluted

$               1.09

$               1.04

$               3.91

$               5.18

Weighted-average shares used in computing per share amounts:

Basic

54,783

57,406

55,592

57,847

Diluted

56,235

59,178

56,970

59,815

 

Sanmina Corporation

Reconciliation of GAAP to Non-GAAP Measures

(in thousands, except per share amounts)

(Unaudited)

Three Months Ended

Twelve Months Ended

September 28,
2024

June 29,
2024

September 30,
2023

September 28,
2024

September 30,
2023

GAAP Operating income

$           89,590

$           82,367

$          99,266

$         335,494

$         455,658

GAAP Operating margin

4.4 %

4.5 %

4.8 %

4.4 %

5.1 %

Adjustments:

Stock compensation expense (1)

15,489

14,682

12,942

57,407

50,402

Amortization of intangible assets

—

—

1,342

—

2,493

Distressed customer charges (recoveries)
(2)

—

(2,500)

—

1,799

—

Legal and other (3)

(720)

500

—

1,130

5,170

Restructuring

2,970

1,793

4,323

10,227

6,054

Non-GAAP Operating income

$         107,329

$           96,842

$        117,873

$        406,057

$        519,777

Non-GAAP Operating margin

5.3 %

5.3 %

5.7 %

5.4 %

5.8 %

GAAP Net income attributable to common
shareholders

$           61,381

$           51,602

$          61,841

$         222,536

$         309,970

Adjustments:

Operating income adjustments (see above)

17,739

14,475

18,607

70,563

64,119

Legal and other (3)

—

—

—

(4,967)

(3,630)

Adjustments for taxes (4)

1,175

4,751

3,526

12,736

3,771

Non-GAAP Net income attributable to
common shareholders

$           80,295

$           70,828

$          83,974

$        300,868

$        374,230

GAAP Net income attributable to common
shareholders per share:

Basic

$               1.12

$               0.93

$               1.08

$               4.00

$               5.36

Diluted

$               1.09

$               0.91

$               1.04

$               3.91

$               5.18

Non-GAAP Net income attributable
to common shareholders per share:

Basic

$               1.47

$               1.28

$               1.46

$               5.41

$               6.47

Diluted

$               1.43

$               1.25

$               1.42

$               5.28

$               6.26

Weighted-average shares used in
computing per share amounts:

Basic

54,783

55,466

57,406

55,592

57,847

Diluted

56,235

56,711

59,178

56,970

59,815

(1)

Stock compensation expense

Cost of sales

$             4,700

$             4,327

$            3,978

$           17,493

$           16,763

Selling, general and administrative

10,461

10,082

8,747

38,867

32,781

Research and development

328

273

217

1,047

858

Total

$           15,489

$           14,682

$          12,942

$          57,407

$          50,402

(2)

Relates to accounts receivable and inventory write-downs (recoveries) associated with distressed
customers.

(3)

Represents expenses, charges and recoveries associated with certain legal and other matters.

(4)

GAAP provision for income taxes

$           19,438

$           19,900

$          21,396

$           79,784

$           85,294

Adjustments:

Tax impact of operating income adjustments

1,550

1,303

2,645

7,415

7,736

Discrete tax items

2,925

1,462

1,210

3,425

12,930

Deferred tax adjustments

(5,650)

(7,516)

(7,381)

(23,576)

(24,437)

Subtotal – adjustments for taxes

(1,175)

(4,751)

(3,526)

(12,736)

(3,771)

Non-GAAP provision for income taxes

$           18,263

$           15,149

$          17,870

$          67,048

$          81,523

 

Q1 FY25 Earnings Per Share Outlook*:

Q1 FY25 EPS Range

Low

High

GAAP diluted earnings per share

$                  1.03

$                  1.13

Stock compensation expense

$                  0.27

$                  0.27

Non-GAAP diluted earnings per share

$                  1.30

$                  1.40

* Due to uncertainty regarding the timing of recognition of restructuring charges, impairment charges and other unusual or infrequent items, if any, that could be incurred during the first quarter of FY25, an estimate of such items is not included in the outlook for Q1 FY25 GAAP EPS.

 

Sanmina Corporation

Condensed Consolidated Cash Flow

(in thousands)

(GAAP)

(Unaudited)

Three Month Periods

Twelve Month Periods

Q4’24

Q3’24

Q2’24

Q1’24

Q4’23

FY24

FY23

Net income before noncontrolling interest

$    67,340

$    54,738

$    55,309

$    60,364

$    65,355

$  237,751

$  327,513

Depreciation and amortization

31,654

29,764

30,274

30,726

30,521

122,418

118,237

Other, net

30,110

19,708

18,634

18,185

21,947

86,637

80,923

Net change in net working capital

(77,229)

(14,211)

(31,900)

16,750

(40,966)

(106,590)

(291,505)

Cash provided by operating activities

51,875

89,999

72,317

126,025

76,857

340,216

235,168

Purchases of long-term investments

(3,300)

(600)

(700)

(600)

(500)

(5,200)

(2,500)

Net purchases of property & equipment

(22,597)

(22,772)

(29,611)

(34,216)

(37,803)

(109,196)

(189,958)

Cash used in investing activities

(25,897)

(23,372)

(30,311)

(34,816)

(38,303)

(114,396)

(192,458)

Holdback paid in connection with previous
business combination

—

—

—

—

—

—

(8,558)

Net share repurchases

(60,412)

(54,629)

(17,477)

(115,619)

(30,397)

(248,137)

(103,681)

Net borrowing activities

—

(4,375)

(4,375)

(12,820)

4,070

(21,570)

(9,055)

Proceeds from sale of non-controlling
interest

—

—

—

—

—

—

215,799

Cash used for financing activities

(60,412)

(59,004)

(21,852)

(128,439)

(26,327)

(269,707)

94,505

Effect of exchange rate changes

2,585

(772)

(886)

1,250

(1,245)

2,177

498

Net change in cash & cash equivalents

$  (31,849)

$      6,851

$    19,268

$  (35,980)

$    10,982

$  (41,710)

$  137,713

Free cash flow:

Cash provided by operating activities

$    51,875

$    89,999

$    72,317

$  126,025

$    76,857

$  340,216

$  235,168

Net purchases of property & equipment

(22,597)

(22,772)

(29,611)

(34,216)

(37,803)

(109,196)

(189,958)

$    29,278

$    67,227

$    42,706

$    91,809

$    39,054

$  231,020

$    45,210

Schedule 1

The statements above and financial information provided in this earnings release include non-GAAP measures of operating income, operating margin, net income and earnings per share. Management excludes from these measures stock-based compensation, restructuring, acquisition and integration expenses, impairment charges, amortization charges and other unusual or infrequent items, as adjusted for taxes, as more fully described below.

Management excludes these items principally because such charges or benefits are not directly related to the Company’s ongoing core business operations. We use such non-GAAP measures in order to (1) make more meaningful period-to-period comparisons of the Company’s operations, both internally and externally, (2) guide management in assessing the performance of the business, internally allocating resources and making decisions in furtherance of Company’s strategic plan, (3) provide investors with a better understanding of how management plans and measures the business and (4) provide investors with a better understanding of our ongoing, core business. The material limitations to management’s approach include the fact that the charges, benefits and expenses excluded are nonetheless charges, benefits and expenses required to be recognized under GAAP and, in some cases, consume cash which reduces the Company’s liquidity. Management compensates for these limitations primarily by reviewing GAAP results to obtain a complete picture of the Company’s performance and by including a reconciliation of non-GAAP results to GAAP results in its earnings releases.

Additional information regarding the economic substance of each exclusion, management’s use of the resultant non-GAAP measures, the material limitations of management’s approach and management’s methods for compensating for such limitations is provided below.

Stock-based Compensation Expense, which consists of non-cash charges for the estimated fair value of equity awards granted to employees and directors, is excluded in order to permit more meaningful period-to-period comparisons of the Company’s results since the Company grants different amounts and value of equity awards each quarter. In addition, given the fact that competitors grant different amounts and types of equity awards and may use different valuation assumptions, excluding stock-based compensation permits more accurate comparisons of the Company’s core results with those of its competitors.

Restructuring, Acquisition and Integration Expenses, which consist of employee severance, lease termination costs, exit costs, environmental investigation, remediation and related employee costs and other charges primarily related to closing and consolidating manufacturing facilities and those associated with the acquisition and integration of acquired businesses, are excluded because such charges (1) can be driven by the timing of acquisitions and exit activities which are difficult to predict, (2) are not directly related to ongoing business results and (3) generally do not reflect expected future operating expenses. In addition, given the fact that the Company’s competitors complete acquisitions and adopt restructuring plans at different times and in different amounts than the Company, excluding these charges or benefits permits more accurate comparisons of the Company’s core results with those of its competitors. Items excluded by the Company may be different from those excluded by the Company’s competitors and restructuring and integration expenses include both cash and non-cash expenses. Cash expenses reduce the Company’s liquidity. Therefore, management also reviews GAAP results including these amounts.

Impairment Charges for Goodwill and Other Assets, which consist of non-cash charges, are excluded because such charges are non-recurring and do not reduce the Company’s liquidity. In addition, given the fact that the Company’s competitors may record impairment charges at different times, excluding these charges permits more accurate comparisons of the Company’s core results with those of its competitors.

Amortization Charges, which consist of non-cash charges impacted by the timing and magnitude of acquisitions of businesses or assets, are also excluded because such charges do not reduce the Company’s liquidity. In addition, such charges can be driven by the timing of acquisitions, which is difficult to predict. Excluding these charges permits more accurate comparisons of the Company’s core results with those of its competitors because the Company’s competitors complete acquisitions at different times and for different amounts than the Company.

Other Unusual or Infrequent Items, such as charges or benefits associated with distressed customers, expenses, charges and recoveries relating to certain legal matters, and gains and losses on sales of assets, are excluded because such items are typically non-recurring, difficult to predict or not directly related to the Company’s ongoing or core operations and are therefore not considered by management in assessing the current operating performance of the Company and forecasting earnings trends. However, items excluded by the Company may be different from those excluded by the Company’s competitors. In addition, these items include both cash and non-cash expenses. Cash expenses reduce the Company’s liquidity. Management compensates for these limitations by reviewing GAAP results including these amounts.

Adjustments for Taxes, which consist of the tax effects of the various adjustments that we exclude from our non-GAAP measures, and adjustments related to deferred tax and discrete tax items. Including these adjustments permits more accurate comparisons of the Company’s core results with those of its competitors. We determine the tax adjustments based upon the various applicable effective tax rates. In those jurisdictions in which we do not expect to realize a tax cost or benefit (due to a history of operating losses or other factors), a reduced tax rate is applied.

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SOURCE Sanmina Corporation

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Visier Debuts Talent Agents, Closing the Gap Between HR Programs and Business Impact

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35 minutes ago

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October 21, 2026

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New AI agents turn Visier insights and plans into guided action for every manager, fixing the #1 reason HR programs fail: manager follow-through

VANCOUVER, BC, Oct. 21, 2026 /PRNewswire/ — Visier today announced Talent Agents at HR Tech 2026. Built on the Visier Workforce Intelligence Platform, these new AI agents guides every manager to the next right action in their organization’s HR programs in real time, and give talent leaders evidence of what each program actually changed for the business.

Talent management devotes a great deal of money and effort into HR programs every year, and many still can’t show the ROI or outcomes. New Visier research* found:

62% of HR leaders name manager follow-through as the single biggest reason programs fail77% of enterprises run HR programs on spreadsheets or a patchwork of tools, and are three times less likely to measure results while a program is underway.

Visier Talent Agents are built to close these gaps, helping talent management tackle its most critical challenges as organizations plan, grow and retain their talent. They leverage the latest in AI developments to pair best-in-class program frameworks with personalized, in-workflow guidance delivered to whoever needs to act next, and a closed-loop system for continuous learning and improvement based on every program’s goals.

“Good program design has never been enough. What HR has lacked is a GPS for every manager, so the moment someone drifts off track, they’re guided back before the program goes sideways,” said Dave Weisbeck, Chief Strategy Officer at Visier. “That’s what Talent Agents deliver, along with proof of what the program actually changed for the business.” 

“The space between HR program design and the actual business result is exactly where most HR investment gets lost,” said Madeline Laurano, founder of Aptitude Research. “Guidance that activates the manager at the moment they need to act, with proof of what changed afterward, is the piece of talent management that’s been missing and what Visier is solving for.”

Unlike HCM suites that teams would spend a year customizing, or point solutions that only see one piece of the picture, or even an internal-built tool that puts employee data at risk, Visier’s Talent Agents are built to run programs end-to-end and prove impact, not just track activity.

The agents reach every stakeholder in a program at the moment they need to act, not just when someone remembers to ask. They’re built to match how an organization actually operates, and the outcome of every action it recommends feeds back into the AI learning engine, so guidance gets sharper with each cycle. Because guidance runs on Visier’s proprietary Workforce AI rather than routing every follow-up through a person, organizations can scale their programs without being constrained by HRBP headcount.

The agents are built on Visier’s Workforce Intelligence Platform, so every program comes with the context, governance, and security an enterprise expects, backed by over 16 years of experience solving HR’s toughest problems.

Talent Agents are Visier’s answer to what the company calls the “activate” layer of Workforce AI, building on the platform’s existing strength in helping organizations understand their workforce data and plan around it. The offering pairs Visier’s technology with a dedicated implementation team that customizes each program to a customer’s specific processes and goals.

Attending HRTech 2026 in Las Vegas this week? Head over to Visier Booth #5209 to explore Talent Agents, or visit visier.com to learn more. The Visier team will also be at UNLEASH World in Paris (booth #106) and Total Talent Asia (booth #3).

About Visier
Visier Workforce AI is the context foundation for talent management. The Visier Workforce Intelligence Platform turns scattered, sensitive people data into one governed understanding of the entire workforce, so organizations can understand, plan, and activate all of their talent priorities in one place. More than 85,000 of the world’s most complex organizations, including Ford Motor Company, eBay, Experian, and Domino’s Pizza, rely on Visier’s over 16 years of workforce domain expertise, ranked #1 in vendor satisfaction and user experience for three consecutive years by the Sapient Insights HR Systems Survey. Learn more at Visier.com.

*Research from fall 2026, conducted by the Visier, Inc. Research Team surveyed verified senior HR and Talent leaders from 80 organizations with more than 10,000 employees across North America.  

visierpr@walkersands.com

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SOURCE Visier

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HSG Laser Unveils New Flagship Machine at EuroBLECH 2026, Powering Productivity for European Manufacturers

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35 minutes ago

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October 21, 2026

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HANNOVER, Germany, Oct. 21, 2026 /PRNewswire/ — HSG Laser is showcasing its latest laser cutting and intelligent manufacturing solutions at EuroBLECH 2026, held from October 20–23 at the Hannover Exhibition Centre. Under the theme “Powering Productivity with HSG,” HSG is presenting its latest innovations at Booth 15-F42, including the European debut of its new flagship GV, alongside the launch of GFA PRO and AI CutPilot, as well as the European debut of its high-speed laser solutions G3015T and R2 PRO.

Expanding High-Performance Laser Solutions

The new GFA PRO is engineered for large-format metal processing, addressing challenges such as large footprints, low speed, unstable thick-plate performance, and high operating costs. Making their European debut, the G3015T and R2 PRO expand HSG’s high-speed laser lineup for sheet and tube processing, helping manufacturers improve throughput, flexibility, and production efficiency.

“HSG Laser’s European footprint has grown steadily, with more than 2,000 units delivered and a new showroom opening soon this year,” said Shawn Wang, Vice President of HSG Laser. “Our latest launches at EuroBLECH mark another step forward, combining high-performance equipment with intelligent technologies and localized support to deliver greater productivity for European customers.”

Recognized by MM MaschinenMarkt Germany

Built for the European market, HSG Laser earned the “International Spotlight” award from MM MaschinenMarkt Germany’s Chief Editor for its GV and AI CutPilot. The GV combines cutting, beveling, countersinking, and chamfering in one machine to streamline pre-welding workflows and boost efficiency. AI CutPilot is HSG’s industry-first, self-developed AI system that turns laser-cutting expertise into a reusable, scalable machine capability, helping reduce trial work and improve first-pass yield. The award further highlights HSG Laser’s technological strength and growing presence in the European market.

Strengthening Local Operations in Europe

As part of its continued commitment to supporting manufacturers worldwide, HSG Laser is further strengthening its localized operations in Europe. On 10th November, HSG will open its new showroom in Düsseldorf, Germany under the theme “Go Global, Link Local.” The new showroom will bring HSG’s latest machines, technologies, and expertise closer to European customers, creating more opportunities for direct engagement and local support. This expansion further strengthens HSG’s presence in Europe and its ability to provide responsive, customer-focused solutions tailored to local manufacturing needs.

About HSG Laser

Founded in 2006, HSG Laser is a leading global manufacturer of intelligent metal processing equipment, specializing in laser cutting, tube processing, bending, and welding automation systems. With a presence in over 100 countries and regional centers across Europe, North America, Japan, India, and Asia-Pacific, HSG Laser is committed to driving the transformation of manufacturing through innovation, reliability, and artificial intelligence.

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Mérieux NutriSciences Completes Acquisition of Certified Group, Becoming North America’s Leading Food Testing Provider

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October 21, 2026

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CHICAGO, Oct. 21, 2026 /PRNewswire/ — Mérieux NutriSciences, a global leader in food safety, quality, and sustainability, today announced the successful completion of its acquisition of Certified Group.

First announced in August 2026, this strategic transaction unites two complementary leaders in the Testing, Inspection, and Certification (TIC) sector. With approximately $300 million in revenue, Certified Group brings 31 laboratories and over 1,600 talented employees into Mérieux NutriSciences’ global network. The integration also adds a robust roster of more than 170 independent regulatory consultants across the United States and Canada.

With this expanded coast-to-coast footprint, Mérieux NutriSciences is positioned to provide customers with broader service offerings and enhanced regulatory support. The integration deepens the company’s capabilities in key Food & Beverage segments, most notably in animal protein through its Food Safety Net Services (FSNS) network, where Certified Group has built a strong reputation as a bellwether for safety and quality, alongside leading positions in dairy, packaged foods, nuts, and spices.

Customers will also benefit from high-value expertise in cosmetics, OTC products, and dietary supplements through the Certified Laboratories vertical, and reduced-harm nicotine product testing via Labstat International. These core verticals are further bolstered by specialized expert services, including contract research (Lab Plus), regulatory consulting (EAS Consulting Group), and comprehensive certification and audit programs (FSNS Certification and Audit).

“We are thrilled to officially welcome the talented teams from Certified Group to the Mérieux NutriSciences global network,” said Nicolas Cartier, CEO of Mérieux NutriSciences. “By combining our respective strengths, we are vastly expanding the depth and breadth of our capabilities. This milestone allows us to be closer to our customers, meeting their localized, time-sensitive needs with unmatched speed and reliability, while furthering our shared purpose: Better Food. Better Health. Better World.”

“Our priority is to ensure a seamless transition for all customers while delivering immediate, enhanced value,” added Sébastien Moulard, President North America at Mérieux NutriSciences. “Through this nationwide analytical network, customers now have access to a truly comprehensive portfolio of routine testing, specialized analysis, expert regulatory support, and more. We are excited to leverage the best of both worlds to drive innovation and provide practical solutions right where production happens.”

“Certified Group has built a differentiated platform with a strong reputation for quality, scientific excellence and exceptional customer service,” said Deborah Kerr, Managing Director, Warburg Pincus & Executive Chair, Certified Group. “We are proud to have supported Certified Group’s evolution and look forward to seeing the company continue to thrive as part of Mérieux NutriSciences.”

The financing of the acquisition brings new minority shareholders Peugeot Invest and Continental Grain Company (Conti) alongside Mérieux NutriSciences’ long standing shareholders: Institut Mérieux, Sofina, and Dassault Group. This collective support underscores strong market confidence in the company’s strategic vision. Ultimately, the successful integration of Certified Group solidifies Mérieux NutriSciences as the leading provider in North America and a top player in the global food TIC market, further cementing its role as the trusted partner for customers navigating a rapidly evolving landscape.

About Mérieux NutriSciences:

At Mérieux NutriSciences, we leverage 60 years of scientific and entrepreneurial expertise to answer food industry needs. Today’s global challenges transform the way food is produced, marketed and consumed, which is why we know our clients need more than reliable analytical results; they need practical and innovative solutions that will contribute to make food systems safer, healthier and more sustainable. Present worldwide, we are more than 160 accredited laboratories and a team of over 11,600 committed employees. We strongly believe that together, we can create solutions to offer our planet: BETTER FOOD. BETTER HEALTH. BETTER WORLD. na.mxns.com

MERIEUX NUTRISCIENCES
Stephen Nichols (North America)
stephen.nichols@mxns.com 

Marion Bertrand (Global)
media@mxns.com 

Ashton van den Bergh (Global)
media@mxns.com

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SOURCE Mérieux NutriSciences

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