February 1/Mississauga, Ont./The Canadian Press -- Valeant Pharmaceuticals International Inc. has acquired Brazilian food supplement company Probiotica Laboratorios Ltda. for the equivalent of about $86 million.

Probiotica, which markets a full line of over-the-counter sports nutrition products and other food supplements, has a 30% share of the Brazilian market, Valeant said.

Net revenue in 2011 was about $80 million Brazilian reals, or just under C$46 million.

"We are excited about this new opportunity in Brazil," Valeant chairman and chief executive J. Michael Pearson said in a release.

"The sports nutrition and food supplement market has outperformed the rest of the market and Probiotica's strong reputation in Brazil makes it a perfect fit into our growing consumer portfolio."

"With a continued emphasis on healthier lifestyles and fitness, we believe we have a unique opportunity not only in Brazil but in potential export markets as well."

 From the February 2, 2012, Prepared Foods' Daily News.