NORCROSS, Ga. — Hi-Tech Pharmaceuticals plans to buy Advanced Pharmaceuticals and Nutritionals (APN), a leading supplier of over-the-counter health care products and dietary supplements in the Mexican, Central American, and South American markets.

Financial terms of the agreement weren’t disclosed. Hi-Tech said Monday that the addition of Guadalajara, Mexico-based APN will enhance its supplement and OTC product offering and expand its distribution via APN’s 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.”

According to Hi-Tech, APN is one of the largest players in the Latin America OTC and nutritional markets and the largest or second-largest player in four South American markets. In those areas, APN distributes leading cough/cold,  pain relief, weight management, sports nutrition, nutraceuticals, and gastrointestinal treatment brands.

APN has delivered compound annual revenue growth of about 30% over the last three years, according to Hi-Tech.

“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,” Wheat added. “Together, our combined company will have an even larger product portfolio, broader geographic reach, and enhanced scale.”