April 12, 2021 -- Avantor has entered into an agreement to acquire liquid handling consumables firm Ritter and its affiliates for approximately $1.05 billion in an all-cash transaction.
Headquartered in Schwabmünchen, Germany, Ritter is a manufacturer of robotic and liquid handling consumables for use in a variety of molecular screening and diagnostic applications including real-time polymerase chain reaction (PCR), nonmolecular assays such as immunoassays, next-generation sequencing, and as part of drug discovery and clinical trial testing in pharmaceutical and biotechnology applications.
Ritter's manufacturing footprint includes 131,000 sq ft of specialized production space. Much of Ritter's current business is focused on serving diagnostic system providers and liquid handling original equipment manufacturers.
The acquisition will allow Avantor to increase its offerings to the biopharmaceutical and healthcare markets as well as offer new products addressing lab automation workflow, the company said.
The transaction is expected to be completed in the third quarter of 2021.