The company is confident that the acquisition will benefit the group as a whole. Tecra has patented technology, a strong brand/platform for product expansion and direct customer access in Asia-Pacific.
Tecra's products are sold and supported in over 40 countries, either directly through Tecra's own sales organisation, or via a network of worldwide distributors. Tecra has sales and support staff directly serving customers in Australia, New Zealand, the UK, France, Hong Kong and the USA.
Biotrace acquired all the remaining shares in Tecra for a cash consideration of Aus$13.7 million (£5.3 million) payable out of existing resources. In the year ended 31 December 2003, Tecra reported an audited profit before tax of Aus$1.1 million (£0.4 million) and generated cash from operations of Aus$1.4 million (£0.5 million). As at 31 December 2003, it had net assets of Aus$6.7 million (£2.6 million).
"The Tecra brand is well regarded worldwide and is extremely complementary to the Group's existing brands, enhancing our product portfolio and relationships with key customers," said Ian Johnson, CEO of Biotrace. "Like Biotrace, approximately 90 per cent of Tecra's turnover is generated from consumable products, which will provide excellent visibility on future earnings. The patented technology and platform will provide opportunities to expand the range of rapid tests, not only for pathogens but also for additional food diagnostic tests, such as allergens and antibiotic residues."
Biotrace International's industrial microbiology product portfolio was expanded last year following the acquisition of International BioProducts (IBP). The group's range now includes a number of innovative environmental sampling, dilution, and enrichment solutions for food manufacturing industries.
Such procedures are becoming standard as food safety and quality legislation becomes tighter and tighter. In addition, many major manufacturers are installing internal quality standards in order to meet and surpass government regulations.
Biotrace believes that the new IBP range can help plant managers achieve these aims, and perfectly complements the firm's own ATP product package.
Traditional microbial testing detects the levels and types of micro organisms in the manufacturing environment and is an essential part of any HACCP regime. Biotrace offers a choice of sponges and swabs for sampling areas aseptically, from large surfaces to equipment crevices. These products, such as HydraSponge, SpongeSicle and RediSwab, are available with a variety of broth and buffers to neutralise the effect of cleaning chemicals.
Carcass sampling is also easy with the company's line of carcass swabbing and poultry rinsing products including sampling templates, rinse bags and the EnviroSponge.
Finished product should be tested for pathogens and spoilage organisms to assure product quality and safety; FlipTop or Mini FlipTop sterile pre-filled vials for simple sample dilutions save valuable time and eliminate the hassle of preparing media. For enrichment and plating for pathogen testing Biotrace can supply BioPro Premium dehydrated media or one of the many QuickEnrich prepared medias.
The IBP product range is available through the European direct sales offices Biotrace Fred Baker, Biotrace Maltec ApS, Biotrace SA and a network of distributors.