(Alliance News) - Intertek Group PLC on Monday said it has agreed to buy Controle Analitico Analises Tecnicas Itda, a provider of environmental analysis with a focus on water testing.
The London-based quality assurance service provider said the acquisition was for an undisclosed sum.
Controle Analitico, based in Brazil, has more than 150 employees and generated revenue of GBP5.5 million in 2022.
Chief Executive Officer Andre Lacroix said: "The acquisition of Controle Analitico is a compelling strategic fit for Intertek and is highly complementary to our existing footprint and service offering in Brazil. Moreover, it aligns with our core purpose of bringing quality, safety and sustainability to life."
Intertek said the acquisition will enable the company to expand its Food and Agri total quality assurance solutions in Brazil by expanding its presence and service offering in the Environmental testing market.
Shares were down 1.1% at 4,010.00 pence each on Monday morning in London.
By Xindi Wei, Alliance News reporter
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Intertek Group (ITRK)