LANSING, Mich., May 2, 2016 /PRNewswire/ -- Neogen
Corporation (NASDAQ: NEOG) announced today that it has acquired
Preserve International and Tetradyne LLC, sister companies owned
and operated by the private Nevada-based Preserve International
corporation.
Founded in 1991, Preserve and Tetradyne offer the livestock and
food processing industries cleaners, disinfectants, and associated
products. Preserve has focused primarily on the swine, poultry and
food processing markets, and Tetradyne's major focus has been on
the dairy industry. The company holds patents on innovative
disinfectant technologies and more than 100 EPA/FDA registered
products.
"Preserve has an exceptional catalog of innovative products,
state-of-the-art manufacturing facilities, and a proven staff for
development and manufacturing — who will now continue under
Neogen's ownership in their existing locations," said James Herbert, Neogen's CEO and chairman.
"Adding Preserve's products, complementary expertise and customer
base strengthens our cleaner and disinfectant presence. Their sales
channels are almost identical to our existing animal safety
distribution, and represent an easy fit with our sales and
marketing operations."
Neogen will now operate Preserve's manufacturing facilities in
Memphis, Tenn., and Turlock, Calif. These locations further expand
Neogen's easy market reach.
"As we looked to take our 25-year-old business to the next
level, Neogen was the optimum choice," said Gary Gaumer, Preserve International's president.
"Neogen's focus on biosecurity for the agricultural markets aligns
very closely with our mission. We look forward to accelerating our
growth now as part of a combined organization."
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.
CONTACT:
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Steven J. Quinlan,
Neogen Vice President & CFO
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517/372-9200
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SOURCE Neogen Corporation