(Alliance News) - Quality assurance giant Intertek Group PLC on Wednesday unveiled an acquisition to enter the Brazilian agri-food and beverage testing market.
The London-based firm bought JLA Brazil, a food, agriculture and environmental testing provider, for an undisclosed price.
The acquisition comes as increasing industry regulations have overhauled global food supply chains' approach to hygiene, safety and sustainability.
"The demand for food and beverage testing solutions has accelerated in recent years as global supply chains become more complex," said Chief Executive Andre Lacroix.
"We welcome the JLA team to Intertek and look forward to working together to seize the attractive opportunities ahead."
Brazil is one of world's largest in agri-food and beverage producers and accounts for 0.4% of the global food testing market.
Lacroix described Brazil's food testing market as "attractive" and stated the acquisition will expand Intertek's assurance capabilities.
JLA generated revenue of GBP4.9 million in 2020 and employs over 170 colleagues.
Shares in Intertek were up 2.0% at 5,482.00 pence in London on Wednesday.
By Josie O'Brien; josieobrien@alliancenews.com
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Intertek Group (ITRK)