Tarsons Products surges 4% after subsidiary acquires two German companies

Shares of Tarsons Products Limited surged over 4 percent to Rs 508 in morning trade on December 21 after the company announced that its subsidiary entered into a share purchase agreement to acquire Nerbe R&D GmbH and Nerbe plus.

“Tarsons Products Limited and Tarsons Life Science Pte, a wholly owned subsidiary of the company, has agreed, Tarsons said in an exchange filing on December 20. It further added that 10-15 million Euros shall be the cost of acqusition, subject to closing adjustments.

At 9:40 am, the counter was training at Rs 500, up 2.6 percent from the previous close on the NSE. Since the start of the year, the scrip has tanked over 28 percent and is way off its 52-week high of Rs 723.

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Established in 1976 by Jurgen Nerbe, based out of Hamburg, Germany, is a distributor of plastic labware. The acquisition is of strategic nature and will help the Tarsons Group to enhance its line of business.

Tarsons Life Science Pte Ltd will become the holding company of the German entity after the execution of the share purchase agreement and shall have all the rights applicable to a holding company over its subsidiary company, the exchange filing further added.

Tarsons is one of India’s leading producers and suppliers of laboratory plastic ware for use within molecular biology, cell culture, genomics, proteomics and immunology.

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