LANSING — With the acquisition of a leading animal genomics business in Australia, Neogen Corp. hopes to accelerate its growth in the Oceania region.
The Lansing-based producer of food and animal safety products acquired the assets of The University of Queensland Animal Genetics Lab (AGL), which it will rename GeneSeek Australasia, according to a statement. AGL had annual revenues of $3.1 million and was “a significant customer” of Neogen (Nasdaq: NEOG).
Terms of the deal were not disclosed.
With the AGL deal, Neogen now operates four animal genomics labs including at locations in the U.S., Scotland and Brazil.
“Adding AGL's complementary expertise, local support, and impressive customer base strengthens our animal genomic capabilities and presence,” Dr. Jason Lilly, Neogen's vice president of corporate development, said in a statement. “The GeneSeek Australasia laboratory near Brisbane will provide our Australian customers the same access to the best animal genomics technology as our customers elsewhere, and also offers all the benefits of dealing directly with a well-known entity in Australia.”