Business
Neogen acquires food quality diagnostics company
LANSING, Mich., Jan. 4, 2021 /PRNewswire/ -- Neogen Corporation (NASDAQ: NEOG) announced today that it has acquired Ireland-based Megazyme, Ltd. — a major
About this update from Neogen Corporation
[{"type":"text","content":"LANSING, Mich., Jan. 4, 2021 /PRNewswire/ -- Neogen Corporation (NASDAQ: NEOG) announced today that it has acquired Ireland-based Megazyme, Ltd. — a major supplier of analytical solutions used by quality control laboratories in the global food and beverage industries. Megazyme will continue to operate as a standalone business, and will be managed through Neogen's European operations in Scotland. \nMegazyme was founded in 1988 with the core mission of developing and refining analytical methods used to measure the carbohydrates and enzymes in grain and cereal products that affect quality. Subsequently, their interests expanded to the wine, dairy and food industries. Megazyme's diagnostics, which are exclusively developed and manufactured in-house, have since attracted worldwide acclaim for their genuinely innovative methodologies and exceptional component purity.\n\"Neogen has had a long relationship with Megazyme and highly respects the business and products Dr. McCleary has developed and built,\" said Dr. Jason Lilly, Neogen's vice president of international business. \"The addition of Megazyme to the global Neogen business will strengthen our relationships with the largest food producers and those companies that are aligned with our mission of food security and quality. The integration of the Megazyme product line into Neogen's traditional food safety products will allow us to expand our commercial relationships across food companies and ensure not only safe food, but the highest quality and nutritional content.\"\n\"After more than 30 years of building Megazyme to a leading food diagnostics company, I'm very pleased to see the company becoming a part of Neogen's comprehensive solution for food security and quality,\" said Dr. Barry McCleary, Megazyme's co-founder and CEO, who will continue to be a strategic advisor to Neogen in the area of food quality diagnostics. \"I am honored to be part of such a great company and look forward to working with Neogen to develop and market new and innovative dietary fiber and carbohydrate analysis products and solutions.\"\nMegazyme was founded in 1988 in Sydney, Australia, and has been based in Bray, Ireland, since 1996. Since its beginning, Megazyme has focused on the development of test kits and reagents for use in analytical and research laboratories.\n\"Neogen's acquisition of Megazyme ...