IDEXX Laboratories has acquired all the outstanding shares of Madasa do Brasil, a Brazil-based distributor of IDEXX dairy and bovine testing products, as well as other food safety testing products.
Madasa do Brasil, headquartered in Sao Paulo, is a leading supplier of rapid tests and state of the art technology for the food Industry.
All Madasa employees will join IDEXX and continue operations in Sao Paulo.
IDEXX chairman and chief executive officer Jonathan Ayers said that the acquisition of its Brazilian distributor of dairy and bovine products, with its skilled commercial team and local market expertise and capability, provides IDEXX with an on-the-ground presence in Brazil.
"We look forward to this new relationship expanding our strength in the region as we expect to continue to grow our livestock, poultry, dairy and water businesses in Brazil."
"IDEXX also is eager to work with Madasa's other current suppliers to offer an even more comprehensive portfolio of complementary food and animal safety testing products to the expanding Brazilian market," Ayers added.
IDEXX also plans to strengthen its companion animal diagnostic products and services in the country.
Over the remainder of 2013, the acquisition is expected to contribute approximately $2m of revenue and have no financially material impact to earnings.
