Neogen Buys Chinese Subsidiary
Anapure’s food-safety–testing business includes more than 700 customers in the dairy, beverage and beer, animal feed, and meat and poultry industries. Neogen also has a wholly owned Chinese subsidiary. Sales outside the US accounted for 39% of Neogen’s revenues in fiscal 2014. In an investor presentation, the company stated that two-thirds of its opportunities are outside the US.
Lansing, MI 12/8/14—Neogen, which develops and markets products for food and animal safety, has acquired the food-safety and veterinary-genomic assets of Beijing Anapure BioScientific, its Chinese distributor. Financial details were not disclosed. “China’s burgeoning middle class, with its rapidly growing demand for higher quality meat and dairy products, makes the country a substantial growth opportunity for Neogen products—both for animal production on the country’s farms, and in processing plants throughout China’s food-processing and distribution industry,” commented Neogen Chairman and CEO James Herbert. “Acquiring these strategic assets from Anapure will give us direct access to the western and multinational food companies that have located in China, most of which are already Neogen customers elsewhere.”
