Latest News
Neogen Acquires Italian Food Safety Firm Diessechem
Thursday 16 January 2020

16 January 2020 - US-based food and animal safety specialist Neogen Corp. (NASDAQ: NEOG) has acquired Italy-based food and feed safety diagnostics distributor Diessechem S.R.L., the company said.

With the acquisition, Diessechem's operations will stay in Milan, and will be managed through Neogen's European operations.

Key Diessechem employees will be joining Neogen, ensuring a smooth transition and continued strong revenue growth.

Diessechem was founded in 1993, and has been an authorized distributor of Neogen since its inception.

It is a supplier in Italy of diagnostic kits and instruments used in laboratory analysis and food safety.

The company's customers include the country's important public authorities for food safety, food industries, grain companies, feed mills, and many private laboratories operating in food and environmental test and measurement market.

Terms of the agreement were not disclosed.

Neogen Corp. 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 in the development of animal genomics along with the manufacturing and distribution of a range of animal healthcare products, including diagnostics, pharmaceuticals, veterinary instruments, wound care and disinfectants.
Details
Date Published: 16/01/2020
Target: Diessechem S.R.L.
Country: Italy
Sector: Agriculture/Forestry
Type: Corporate acquisition
Financing:
Status: Closed
Vendor:
Buyer: Neogen Corp
Comment:
Terms of the deal were not disclosed

Options