Intertek swallows Italian food testing group

(ShareCast News) - Intertek Group took a big bite of Italian on Friday, as it reached agreement to purchase Food International Trust (FIT-Italia).FIT-Italia specialised in providing food quality assurance services to the retail and agricultural sectors, Intertek said in a market announcement. It was founded in 2007, remained privately owned and generated revenues of €2m in 2014.The sale price was not immediately clear on Friday morning."To date, FIT-Italia is the only Italian company accredited to deliver the IFS Food Store Inspection program, an initiative developed by retailers and recognised by the Global Food Safety Initiative", a company spokesperson said in the announcement.Intertek chief executive Andre Lacroix said the acquisition would strengthen the group's position on the food sector."With its key accreditations, leading competencies and strong track record of customer service delivery, we are delighted to welcome FIT-Italia and its excellent team to Intertek", he added.FIT-Italia employed 15 people across two sites in Bergamo and Germo at the time of the deal. The deal was expected to be complete in January 2016. Intertek Group