RTTNews | Apr 12, 2021 07:19AM EDT

07:18 Monday, April 12, 2021 (RTTNews.com) - Avantor, Inc. (AVTR) has agreed to acquire Ritter GmbH and its affiliates in an all-cash deal with an upfront equity purchase price of approximately 890 million euros. Headquartered in Schwabmnchen, Germany, Ritter is a manufacturer of robotic and liquid handling consumables, including conductive tips engineered to exacting standards.

Michael Stubblefield, CEO of Avantor, said: "The combination will significantly expand our proprietary offering to the biopharma and healthcare end markets and significantly enhance Avantor's offerings for critical lab automation workflows."

Avantor expects the acquisition to be immediately accretive to adjusted earnings per share upon closure and is anticipated to enhance the company's revenue growth and margin profile.

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