DEERFIELD, Ill. and CHANTILLY, Va., Nov. 18, 2019 /PRNewswire/ -- FoodChain ID ("FoodChain ID"), a Paine Schwartz Partners, LLC portfolio company and a market leading platform dedicated to providing technology enabled food safety, quality, and sustainability solutions, today announced that it has acquired Diversified Laboratories, LLC ("Diversified"), an analytical laboratory specializing in the detection of pesticide, chemical and antibiotic residues and quality measurements in food and animal feed products.
Based in Chantilly, Virginia and founded in 1977, Diversified is a USDA Accredited and ISO 17025 Certified laboratory specializing in the rapid detection and reporting of more than 600 types of pesticides, polychlorinated biphenyls (PCBs), dioxins, antibiotics, mycotoxins, and many other chemical contaminants in human food and animal feed products. Diversified's state-of-the-art facility is the only independent laboratory in the United States that is USDA accredited for chlorinated hydrocarbons and PCB testing. The company has long-standing relationships across a diverse customer base including major poultry, animal feed and food ingredient suppliers in the U.S.
Brad Riemenapp, Chief Executive Officer of FoodChain ID, said, "The acquisition of Diversified enables FoodChain ID to provide a more comprehensive contaminants testing solution while offering our customers industry leading turnaround times. Diversified brings a complementary set of expertise and capabilities that expand our market-leading portfolio of broader technology enabled solutions and accelerates FoodChain ID's strategic innovation initiatives. We look forward to working closely with Peter and his team to serve customers and drive growth in the new food economy."
Peter Kendrick, Chief Executive Officer of Diversified Laboratories, said, "We believe the combination with FoodChain ID will enable us to expand our customer base globally, develop new testing methodologies, and enhance our technical capabilities. As part of FoodChain ID, we will be able to offer testing solutions across the food supply chain and will offer services that are even more comprehensive to our customers. I want to thank our employees for their commitment to innovation and hard work over the last 40+ years, which has helped us get to where we are today. We are excited about the opportunities we see with FoodChain ID to grow our business and build on our record of serving our customers."
About FoodChain ID
The FoodChain ID Group has operations across North & South America, Europe and Asia and provides integrated food safety and food quality solutions that address the challenges and opportunities in the rapidly evolving food industry. Serving more than 30,000 clients in over 100 countries with a market-leading portfolio of testing, inspection, certification, and consulting services, the FoodChain ID Group helps companies navigate the increasingly regulated global food economy demanding higher levels of transparency, accountability, safety and sustainability.
For over 40 years, Diversified has been an independent USDA Accredited and ISO 17025 Certified analytical laboratory specializing in the detection of pesticide and other chemical residues in food and feed products. By providing complete pesticide and PCB residue monitoring and testing solutions, and by being up-to-date with constantly changing regulations, Diversified helps its clients comply with legal and regulatory requirements to protect their business. Diversified's experienced staff and advanced technology provides its clients with cost effective, rapid and accurate results.
About Paine Schwartz Partners
A global leader in sustainable food chain investing, Paine Schwartz Partners is a private equity firm focused exclusively on investment opportunities in the fast-growing, dynamic global food and agribusiness sectors. The firm's investment, operations and finance professionals invest throughout cycles across the food and agribusiness value chain, and bring a collaborative and active management approach to portfolio companies. For further information, please see www.paineschwartz.com.
Andy Brimmer / Aaron Palash
Joele Frank, Wilkinson Brimmer Katcher
SOURCE FoodChain ID