LANSING–Neogen Corp. (Nasdaq: NEOG), the manufacturer of food and animal safety testing products, announced it had acquired Productos Quimicos Magiar, a distributor of Neogen’s food safety diagnostics for the past 20 years in Argentina and Uruguay.
With the acquisition, the former Magiar operations will stay in the two countries and provide Neogen with a physical presence in the important agricultural Southern Cone region of South America, which has large beef and dairy populations with significant export markets.
The operations will be managed through Neogen’s Latin American operations and will now offer direct sales of Neogen food safety, animal safety and genomic products into Argentina and Uruguay.
“The acquisition of Magiar’s businesses in the two countries is a bet that we are making on ourselves,” said Pierre Belhadj, Neogen’s senior director for the Latin American region. “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. We have retained key personnel to ensure the same level of service and consistency Magiar’s customers have come to expect from the company.”
Magiar was founded in 1991, and has marketed diagnostic products for animal feed and food quality control.
According to the USDA’s Foreign Agricultural Service, Argentina is the world’s fourth largest exporter of beef and veal (behind Brazil, India and Australia), and Uruguay is the seventh largest. Argentina is also a leading exporter of milk.
Terms of the agreement were not disclosed.
Neogen’s Food Safety Division markets dehydrated culture media, and diagnostic test kits to detect foodborne bacteria, natural toxins, food allergens, drug residues, plant diseases and sanitation concerns. Neogen’s Animal Safety Division manufactures and distributes animal healthcare products, including diagnostics, pharmaceuticals, veterinary instruments, wound care and disinfectants.
More at www.neogen.com.