LANSING — Food and animal safety products manufacturer Neogen Corp. completed its fifth international deal of 2020 with the acquisition of a Chile-based company.
The deal for Magiar Chilena, a distributor of food, animal and plant diagnostics, closed March 31. Neogen will plug Magiar’s assets into its wholly owned subsidiary, Neogen Chile SpA, according to a statement.
Neogen (Nasdaq: NEOG) said the Magiar deal complements its previous acquisitions of similar businesses in Argentina and Uruguay and gives the company a physical presence throughout the “Southern Cone” of South America, a large agricultural producing region. With the deal, Neogen will offer direct sales of its food safety, animal safety and genomic products in the country.
“The addition of operations in Chile gives us a direct presence in nearly all of the major agricultural and food industry markets in South America,” Neogen President and CEO John Adent said in a statement. “The use of distributors in distant regions, such as the Southern Cone, was critical as we established ourselves as a company capable of efficiently delivering our solutions to global markets. Combined with our recent acquisitions in Argentina, Uruguay, Italy, and Australia, this acquisition shows that we believe now is the time to drive our own growth in important global markets.”
Terms of the deal were not disclosed.
Other Neogen acquisitions this year included Australia-based Cell BioSciences, U.K.-based Abtek Biologicals Limited, Argentina-based Productos Quimicos Magiar S.A. and Italy-based Diessechem S.R.L., as MiBiz previously reported.