08:39 AM EDT, 03/15/2024 (MT Newswires) -- Brady Corp. ( BRC ) said Friday it is in exclusive negotiations to acquire Lyon, France-based Gravotech Holding for about 123 million euros ($134 million) to expand its product line with Gravotech's marking and engraving products.

The manufacturer of identification and workplace safety products said it expects to fund the transaction, expected to close by the end of its fiscal year, with cash on hand and borrowings on its existing credit agreement.

Excluding acquisition-related costs, Brady said it expects the deal to be immaterial to earnings per diluted share for the remainder of the fiscal year ending July 31.