Neogen Acquires Food Safety Business
Neogen also cited the business’s market position in several European countries as a reason for the acquisition. The business will operate as a wholly owned subsidiary of Neogen Europe.
Lansing, MI 12/1/09—Neogen has acquired Gen-Probe’s BioKits food safety business, which includes more than 50 test kits for food allergens, meat and fish speciation, and plant genetics. The business also offers testing services. Terms were not disclosed. The business is expected to generate $3 million in revenues this year and has 25 employees based in Deeside, Wales. “Gen-Probe has a number of food allergen diagnostic tests that are not currently offered by Neogen, and an attractive line of tests to determine meat speciation as a tool to prevent economic adulteration” stated Neogen CEO James Herbert. Gen-Probe acquired the business when it purchased Tepnel Life Sciences earlier this year (see IBO 7/15/09).
