FoodChain ID to acquire Diversified Laboratories.

FoodChain ID, a Paine Schwartz Partners portfolio company and a platform dedicated to providing technology-enabled food safety, quality, and sustainability solutions, agreed to acquire Diversified Laboratories, an analytical laboratory specializing in the detection of pesticide, chemical and antibiotic residues and quality measurements in food and animal feed products. Financial terms were not disclosed. "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," Brad Riemenapp, FoodChain ID Chief Executive Officer.