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IDEXX Laboratories, Inc.
, today announced that it has acquired all outstanding shares of
Madasa do Brasil Ltda. (Madasa). Based in Sao Paulo, Brazil, Madasa is a
distributor of IDEXX Dairy and bovine testing products, as well as other food
safety testing products.
"The acquisition of our 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," commented Jonathan Ayers, Chairman and Chief Executive Officer of the
Company. "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."
"Brazil also presents a tremendous growth opportunity for IDEXX companion
animal diagnostic products and services," added Ayers. "This acquisition will
create a strong foundation to ensure our further success in this region."
All Madasa employees will join IDEXX and continue operations in Sao Paulo.
Over the remainder of 2013, the acquisition is expected to contribute
approximately $2 million of revenue and have no financially material impact to
earnings. This transaction was not included in the guidance for 2013 provided
at the time of the Company's most recent earnings release on July 23, 2013.
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