Product testing group Intertek has acquired 4th Strand, a US provider of product quality and benchmarking services to the retail industry, which will be integrated into the group's Consumer Goods division.
4th Strand, purchased from its management shareholders for $6.4m (£4.1m), is used by retailers in their analysis of product lines and also in the development of higher quality own-brand products.
"As large retailers develop more of their own-brand products to increase sales and profitability, increased quality support is required as their product development capabilities are normally less extensive compared to the branded product manufacturers. This is driving additional strong demand for 4th Strand's solutions as an independent expert in this field," Intertek said in a statement.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
The company employs 12 people and is based in Georgia.
"We are pleased to welcome 4th Strand to Intertek. Their services will increase our consulting capability to existing North American and global clients who seek to deliver high quality products under their own-brand labels and to our customers more broadly in the area of product benchmarking," said Intertek's Chief Executive Officer Wolfhart Hauser.
BC
-
-
Survive a financial nuclear winter
The “cockroach portfolio” is as hardy as the indestructible insect it is named after, says Dominic Frisby
-
NatWest-owned Ulster bank boosts easy access savings rate to 5.2%
Rates on easy access savings accounts have hit over 5%, with Ulster Bank now giving savers the chance to earn 5.2% on their cash savings. We have all the details.
