Neogen Acquires a Major Distributor

In a transaction that will give the company better access to the European Union, Neogen Corp. (Lansing, MI, USA) has acquired Adgen, Ltd. (Ayr, Scotland) for an undisclosed amount of cash and stock.

Neogen markets diagnostic test kits to detect foodborne bacteria, natural toxins, genetic modifications, food allergens, drug residues, and plant diseases. The company's animal safety division markets a line of diagnostics and veterinary instruments and pharmaceuticals.

Adgen has been a major distributor of Neogen products in Europe. The company is also a producer and marketer of agricultural diagnostic testing products. Specifically, Adgen develops, validates, and markets products for the detection of plant disease, bacteria, toxins, and pollutants that affect the agriculture/food industries. Revenues for the fiscal year ending in September 2002 were around US$1.6 million.

"Adding Adgen's experienced research and development team will be a strong asset to Neogen as we work toward developing the next generation of food safety diagnostic testing products, especially products tailored to meet certain unique requirements in the European market,” said James Herbert, president of Neogen.





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