LANSING — Neogen Corp. announced its second international acquisition in a week with a deal for Italy-based Diessechem S.R.L., a distributor of food and feed safety diagnostic products.
The Lansing-based food and animal safety products manufacturer plans to maintain Diessechem’s operations in Milan, and to bring on key employees. Neogen’s European division will oversee operations at Diessechem, which has distributed Neogen products since it started 27 years ago, according to a statement.
Diessechem is a supplier of diagnostic kits and instruments used in laboratory analysis and food safety.
For Neogen (Nasdaq: NEOG), the deal furthers the company’s presence in the Italian market for food safety products, where it believes there are “excellent growth opportunities” for that division and for its animal health and genomic products and services, Dr. Steve Chambers, Neogen’s managing director for European operations, said in a statement.
“Our operations across the United Kingdom have allowed us to serve our direct customers and more than 30 distributors throughout the European Union with easily accessible inventory and increased support,” Chambers stated. “Adding Diessechem’s distribution network in Italy to our European operations will further strengthen our presence in the EU.”
The deal marked the 48th acquisition for Neogen under founder and Chairman James Herbert, who said it “adds significantly to our European operations as Italy becomes part of our direct sales coverage.”
Terms of the deal were not disclosed.
The acquisition of Diessechem follows a deal last week in which Neogen purchased Productos Quimicos Magiar S.A., a longtime distributor in Argentina and Uruguay, as MiBiz previously reported.