Neogen acquires Italian food safety company
LANSING, Mich., Jan. 13, 2020 /PRNewswire/ -- Neogen Corporation (NASDAQ: NEOG) announced today that it has acquired Italy-based Diessechem S.R.L. — a distributor of food and feed safety diagnostics for the past 27 years.
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.
"Italy has traditionally been a strong market for our food safety products, and we believe it continues to hold excellent growth opportunities for that segment, as well as our animal health, and genomic products and services," said Dr. Steve Chambers, Neogen's managing director for its European operations. "Our operations across the United Kingdom have allowed us to serve our direct customers and more than 30 distributors throughout the European Union with easily accessible inventory and increased support. Adding Diessechem's distribution network in Italy to our European operations will further strengthen our presence in the EU. We have retained familiar sales and marketing staff to ensure consistency of service and support."
"The acquisition of Diessechem adds significantly to our European operations as Italy becomes part of our direct sales coverage," said James Herbert, Neogen's chairman, who oversaw this transaction as his 48th and final acquisition. "Our United Kingdom-based organization now sells directly into the largest four European economies, as well as Netherlands and Ireland."
Diessechem was founded in 1993, and has been an authorized distributor of Neogen since its inception. It is a leading supplier in Italy of diagnostic kits and instruments used in laboratory analysis and food safety.
"Over the past 27 years we have helped provide a safer and more reliable food supply for Italy. This acquisition by Neogen will assure this program continues into the future," said Fabrizio Ciniselli, Diessechem's managing director.
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 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.
Steven J. Quinlan, Vice President & CFO
SOURCE Neogen Corporation