Hi-Tech Pharmaceuticals (Hi-Tech), a leading global provider of dietary supplements, contract manufacturing, raw material sales, and OTC pharmaceuticals, and Advanced Pharmaceuticals and Nutritionals (APN), one of the fastest-growing OTC and dietary supplement companies operating in Mexico, Central America, and South America, headquartered in Guadalajara, Mexico, announces that their entrance into a definitive agreement in which Hi-Tech has agreed to acquire APN for an undisclosed amount.

The transaction will enhance Hi-Tech's leading dietary supplements and OTC product offering and expand its distribution through APN's strong established platform.

"The combination of these two great companies accelerates Hi-Tech's international growth strategy, substantially diversifies our business streams and establishes a durable leadership position in Mexico and the South American Nutritional and OTC marketplace," stated Hi-Tech chairman, president and chief executive officer, Jared Wheat. "We believe this strategic transaction will enhance our industry-leading growth profile by expanding market opportunities. APN brings a leading OTC and Nutritional distribution portfolio, Latin America capabilities, and a highly experienced management team to support Hi-Tech's continued growth."

Wheat adds, "Our strong financial performance and operational structure have enabled the continued growth and globalization of our business model with the United States as our gateway for this expansion. Together, our combined company will have an even larger product portfolio, broader geographic reach, and enhanced scale."

APN is one of the largest players within the Latin America OTC and Nutritional markets and the largest or second largest player in four individual South American markets. APN distributes many leading cough & cold,  pain relief, weight management, sports nutrition, nutraceuticals, and gastrointestinal treatment brands.