U.S. Markets closed

Idexx Labs buys Brazilian distributor Madasa

WESTBROOK, Maine (AP) -- Idexx Laboratories Inc. said Friday it bought Madasa do Brasil Ltda., which distributes its dairy, bovine, and food-safety testing products in Brazil.

Idexx provides diagnostic services to veterinarians. It said the deal gives it a greater presence in Brazil, where it wants to expand its livestock, poultry, dairy, and water businesses. Idexx said it also wants to work with Madasa's other suppliers.

The company did not disclose the terms of the deal, but said it expects an additional $2 million in revenue in 2013 as a result of the purchase. Idexx Laboratories Inc. expects to report $1.37 billion to $1.38 billion in revenue this year.

It said all of Madasa's employees will join Idexx.

The company's shares were down 41 cents to $96.10 in afternoon trading.