Business
Neogen acquires Australian food safety assets
LANSING, Mich., March 2, 2020 /PRNewswire/ -- Neogen Corporation (NASDAQ: NEOG) announced today that it has acquired the food safety assets of Australia-based
About this update from Neogen Corporation
[{"type":"text","content":"LANSING, Mich., March 2, 2020 /PRNewswire/ -- Neogen Corporation (NASDAQ: NEOG) announced today that it has acquired the food safety assets of Australia-based Cell BioSciences — a major supplier of food safety and industrial microbiology products. Cell BioSciences will continue to operate in its non-food safety markets. \nWith this asset acquisition, Neogen will now have a direct sales presence across Australasia for its entire portfolio, including food safety, animal safety and animal genomics. The company founded Neogen Australasia, Pty. Ltd., when it acquired The University of Queensland-Animal Genetics Laboratory in September 2017, and has since added animal safety and life science products to its offerings. Neogen will continue to operate Cell BioSciences' food safety business under Neogen's name from Cell BioSciences' existing Melbourne location to ensure excellent customer continuity, as Neogen Australasia looks to centralize its expanding operations in a future location.\n\"This acquisition completes the Neogen food security trifecta of our genomics, animal safety and food safety businesses under the umbrella of our Neogen Australasia operations,\" said Dr. Jason Lilly, Neogen's vice president of international business. \"Our Australian business has tripled its revenues since our acquisition of the genomics lab in 2017. Adding the ability to directly sell to our food safety customers allows us to promote, market, and sell our Neogen solutions throughout the region, including to the large vertically integrated beef and dairy companies across Australia and New Zealand.\" \n\"Cell BioSciences has enjoyed a decade-long partnership with Neogen and has benefited through the sale of highly innovative microbiology products including Soleris and ANSR across Australia,\" said Joe Cardamone, managing director of Cell BioSciences. \"It is a pleasure to see Neogen's commitment to the Australian food safety market, and I look forward to transitioning that portion of our business to Neogen, allowing it to expand and grow faster. Cell BioSciences remains committed to serving our non-food safety customers and focusing on our non-food safety business.\"\nWith the transition, an initial focus for Neogen will be the continuation of Cell BioSciences' expansion of sales of Neogen microbiology and sanitation monitoring instrument systems — inc...