Neogen Corporation · NASDAQ:NEOG
Neogen — Merger or Acquisition (March 2022)
20 slides from Neogen's merger presentation, Mar 11, 2022
Slide 1: [Conference Name] March [ ], 2022
[Conference Name] March [ ], 2022
Slide 2: Disclaimer: Cautionary Notes on Forward Looking Statements
Disclaimer Cautionary Notes on Forward Looking StatementsThis communication includes “forward-looking statements” as that term is defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended by the Private Securities Litigation
Slide 3: Neogen's Mission and Vision for the Future
We will continue to play a key role in enhancing the safety, quality and quantity of the global food supply for our rapidly growing population Neogen’s Mission and Vision for the Future The mission of Neogen Corporation is to be the leading company in the development and marketing of solutions for f
Slide 4: A Unified Food Security Solution
A Unified Food Security Solution Genomic Improvement Regulatory Focus Biosecurity & Hygiene Diagnostic Screening Processing Testing and Compliance Consumer Agriculture andFarm Production Feed Production Food Security
Slide 5: Neogen At a Glance
Neogen At a Glance Strong Growth Profile ~9%FY 2021 Organic Growth Across the Portfolio 50+ Acquisitions Historically ~15%22-Year Revenue CAGR Source: Company filings and FactSet.Note: U.S. dollars in millions. Financials reflect LTM period as of November 30, 2021. Diversified Global Platform $503mm
Slide 6: Neogen's Product Offerings
Neogen’s Product Offerings Food SafetyProtecting the Food Supply Animal SafetyEnsuring Wellbeing of Livestock & Pets GenomicsImproving Food Security Product offerings across Neogen's food safety, animal safety and genomics platforms help solve our customers’ global food security challenges Corporate
Slide 7: Neogen's Product Offerings Detail
Neogen’s Product Offerings Detail Lab testing services for large-herd beef, dairy cattle, swine and poultry, along with 16S metagenomics and STEC confirmation Drug detection immunoassay test kits Natural Toxins, Allergens & Drug Residues Bacterial & General Sanitation Culture Media & Other Rodentici
Slide 8: Neogen's Market Opportunity
Market Size LT Growth Rate Neogen’s Market Opportunity Serving Large and Growing Markets… …with Attractive Long-Term Fundamentals Significant opportunity to achieve long-term success in this attractive and rapidly growing category Food Safety Animal Safety Genomics $18 – 25 billion 6 – 8% $50 – 60 b
Slide 9: Neogen's Digital Technologies
Neogen’s Digital Technologies Neogen’s digital ecosystem combines leading diagnostics and digital solutions to achieve: plant mapping and aggregated data services, enhanced customer value associated with the digital platform and compelling SaaS business models in food production plants Food Safety A
Slide 10: How Neogen Wins in the Marketplace
How Neogen Wins in the Marketplace Neogen’s comprehensive offering is well positioned to offer value across a broad range of industries, technology platforms and markets Brand Product Offering Product Innovation Customer Intimacy Global Footprint Reputation of dependability, trust and care at every
Slide 11: Neogen and 3M Food Safety: A Compelling Combination
Neogen and 3M Food Safety – A Compelling Combination Creating a Global Leader in Food Security (1) Estimated revenue for the pro forma company in first 12 months post-close. Neogen 3M Food Safety A leading pure play food security company, spanning food safety, animal safety and genomics Comprehensiv
Slide 12: Combination Highlights
Neogen and 3M Food Safety Combination Highlights Combination of complementary food safety businesses creates a leading globalpure play food security company with an expected ~$1 billion revenue trajectory(1) 1 Opportunity to accelerate growth and enhance margins due to thesynergistic nature of the c
Slide 13: Expansive Product Offerings
Expansive Product Offerings Combination improves weighting towards stable growth food safety business with strong positions in attractive product categories Neogen 3M Food Safety Combined Company Toxins, Allergens & Residues Bacterial & Sanitation Culture Media Other Food Safety Genomics Animal Safe
Slide 14: Complementary, Diverse, Blue Chip Customer Base
Complementary, Diverse, Blue Chip Customer Base Food & Beverage Contract Labs Other Deep relationships with a diverse group of customers across the world better served by the combined company
Slide 15: Robust Innovation Engine
Robust Innovation Engine Neogen 3M Food Safety Long-Standing History of Innovation 35+ Years 35+ Years Combined 70+ Years of Industry-Defining Innovation Combined Company ~60 Successful Products Developed Over Last 2 Years Category Defining Innovation (e.g., Petrifilm™) New Product Innovations Contr
Slide 16: Global Infrastructure to Capture Growth Opportunity
Bridgend Canada UnitedStates Mexico Chile Argentina Brazil Uruguay Scotland Ireland England Italy India China Australia CentralAmerica LansingExpansion NEOGEN OfficeGenomics Lab New FacilityNew Sales & Marketing Combined company will cover the globe designing, manufacturing and delivering food secur
Slide 17: Preliminary Integration Planning Update
Preliminary Integration Planning Update Neogen Integration Management Office has been stood up to drive process & value creation IT Supply Chain Manufacturing Facility Footprint Personnel / Human Resources Go-forward ERP and CRM solutions selectedERP footprint draftedDiscovery sessions and integrati
Slide 18: Strong Pro Forma Financial Profile
Strong Pro Forma Financial Profile Revenue Adjusted EBITDA Adjusted EBITDA Margin Net Leverage(at closing) Neogen 3M Food Safety Combined Company Mid $500 million Mid $400 million ~$1 billion ~$125 million ~$175 million ~$300 million >20% ~40% ~30% <2.5x Combination is expected to enhance Neogen’s f
Slide 19: Well-Positioned to Extend Track Record of Growth
Well-Positioned to Extend Track Record of Growth 22-Year CAGR: ~15% (organic + M&A) 22-Year CAGR:~10% (largely organic) Neogen 3M Food Safety 22-Year Combined CAGR: ~13% Both Neogen and 3M Food Safety have a long track record of double-digit revenue growth Neogen and 3M Food Safety Revenue Growth (F
Slide 20: Key Takeaways
Key Takeaways Compelling opportunity for investment exposure in attractive, high-growth food safety arena Expansive product solutions enable Neogen to provide solutions for a global customer base Robust innovation pipeline creating breakthrough products and capitalizing on genomics and analytics opp