LANSING — Food and animal safety products manufacturer Neogen Corp. has acquired a longtime distributor in South America.
The deal for Argentina-based Productos Quimicos Magiar S.A. positions Neogen (Nasdaq: NEOG) to take over the distribution of its products in Argentina and Uruguay, the so-called “Southern Cone” region of South American that has large beef and dairy exports, according to a statement.
Magiar will continue to market diagnostic products for animal feed and food quality control, and will be managed via the Latin American operations of Neogen, which will directly sell its food safety, animal safety and genomic products through the company.
“The acquisition of Magiar’s businesses in the two countries is a bet that we are making on ourselves,” Pierre Belhadj, Neogen’s senior director for the Latin American region, said in a statement. “We will immediately recapture distributor profits, and have a direct sales and technical service presence for our full suite of products in the Southern Cone.”
Terms of the agreement were not disclosed.