LANSING, Mich., Dec. 8, 2014 /PRNewswire/ -- Neogen
Corporation (Nasdaq: NEOG) announced today that it has acquired the
food safety and veterinary genomic assets of its Chinese
distributor, Beijing Anapure BioScientific Co., Ltd. (Anapure).
Anapure has been a distributor of Neogen's food safety products
for more than 10 years, and has also offered Neogen's veterinary
genomic services in recent years.
"As we've shown with our acquisitions of successful distributor
partners in Europe, Brazil, and elsewhere, creating a direct
presence in an important global market can accelerate our expansion
into that market," said James
Herbert, Neogen's chairman and chief executive officer.
"China's burgeoning middle class,
with its rapidly growing demand for higher quality meat and dairy
products, makes the country a substantial growth opportunity for
Neogen products — both for animal production on the country's
farms, and in processing plants throughout China's food processing and distribution
industry.
"Acquiring these strategic assets from Anapure will give us
direct access to the western and multinational food companies that
have located in China, most of
which are already Neogen customers elsewhere," Herbert continued.
"The acquisition will also allow us to build upon our existing
Neogen China infrastructure to provide a foothold in Asia, from which we will be able to expand
throughout the region."
Anapure was founded in 1998, and has focused on food and
environment safety testing, blood typing, and small animal disease
diagnosis throughout China. Its
food safety testing business includes more than 700 customers in
the dairy, beverage and beer, animal feed, and meat and poultry
industries.
Terms of the deal were not disclosed.
Neogen Corporation develops and markets products dedicated to
food and animal safety. The company's Food Safety Division markets
dehydrated culture media, and diagnostic test kits to detect
foodborne bacteria, natural toxins, food allergens, drug residues,
plant diseases and sanitation concerns. Neogen's Animal Safety
Division is a leader in the development of animal genomics along
with the manufacturing and distribution of a variety of animal
healthcare products, including diagnostics, pharmaceuticals,
veterinary instruments, wound care and disinfectants.
CONTACT:
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Steven J. Quinlan,
Vice President & CFO
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Neogen
Corporation
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517/372-9200
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visit:http://www.prnewswire.com/news-releases/neogen-acquires-assets-of-its-chinese-distributor-300006022.html
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SOURCE Neogen Corporation