Charles River Laboratories International Inc CRL has acquired Explora BioLabs Holdings Inc, a provider of contract vivarium research services, for $295 million.
- California-based Explora BioLabs operates more than 15 preclinical vivarium facilities, offering turnkey rental space in Southern California, San Francisco, and Boston-Cambridge biohubs, with a planned expansion in Seattle in 2022.
- With over 100 employees, it also offers contract vivarium management, staffing, and regulatory solutions to manage clients' research sites.
- The acquisition of Explora BioLabs complements and expands the Charles River Accelerator and Development Lab (CRADL) operation, which is part of Charles River's Insourcing Solutions business.
- CRADL provides full-service, turnkey vivarium rental space.
- Read Next: Charles River's Q4 Earnings Beats Street Expectation, Reaffirms FY22 Outlook.
- The combined Explora BioLabs and CRADL operation will include at least 25 vivarium facilities by 2022, providing over 300,000 square feet of turnkey rental capacity.
- Explora BioLabs has become part of the company's Research Models and Services segment.
- Explora BioLabs had annual revenue of approximately $38 million in 2021.
- Charles River expects the transaction to be slightly accretive to non-GAAP EPS beginning in 2023.
- The company held cash and equivalents of $246.3 million as of December 25, 2021.
- Price Action: CRL shares are down 1.87% at $283.25 during the market session on the last check Wednesday.
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Ad Disclosure: The rate information is obtained by Bankrate from the listed institutions. Bankrate cannot guaranty the accuracy or availability of any rates shown above. Institutions may have different rates on their own websites than those posted on Bankrate.com. The listings that appear on this page are from companies from which this website receives compensation, which may impact how, where, and in what order products appear. This table does not include all companies or all available products.
All rates are subject to change without notice and may vary depending on location. These quotes are from banks, thrifts, and credit unions, some of whom have paid for a link to their own Web site where you can find additional information. Those with a paid link are our Advertisers. Those without a paid link are listings we obtain to improve the consumer shopping experience and are not Advertisers. To receive the Bankrate.com rate from an Advertiser, please identify yourself as a Bankrate customer. Bank and thrift deposits are insured by the Federal Deposit Insurance Corp. Credit union deposits are insured by the National Credit Union Administration.
Consumer Satisfaction: Bankrate attempts to verify the accuracy and availability of its Advertisers' terms through its quality assurance process and requires Advertisers to agree to our Terms and Conditions and to adhere to our Quality Control Program. If you believe that you have received an inaccurate quote or are otherwise not satisfied with the services provided to you by the institution you choose, please click here.
Rate collection and criteria: Click here for more information on rate collection and criteria.