Thai-Neo Biotech was established in 1992 and has served as a distributor of Neogen food safety products, especially mycotoxin assays and other rapid diagnostic test kits, in Thailand for more than 20 years.
“We are pleased to officially welcome Thai-Neo Biotech to Neogen, which establishes a direct Neogen presence in Thailand and Southeast Asia,” said Dr. Jason Lilly, Neogen’s Vice President of international business.
He noted that the acquisition complements their operations in India, China, and Australia and deepens their access to the fast-growing Asia/Pacific food safety market, and reflects their commitment to Southeast Asia.
“We see this as a tremendous opportunity to grow our aquaculture, genomics, and animal safety businesses, while also offering our food safety solutions to new customers in the area,” Jason said.
Last year December, Neogen tied up with 3M, an American multinational conglomerate corporation, operating in the fields of industry, worker safety, U.S. health care, and consumer goods.
The combination will create an innovative leader in the food safety sector with a comprehensive product range and a strategic focus on the category’s long-term growth opportunities.
Under the terms of the definitive agreements, existing NEOGEN shareholders will continue to own approximately 49.9% of the combined company, and 3M shareholders will receive approximately 50.1% of the combined company.
“We see this as a tremendous opportunity to grow our aquaculture, genomics, and animal safety businesses, while also offering our food safety solutions to new customers in the area.”
According to Neogen’s President and Chief Executive Officer, John Adent, this combination will enhance Neogen’s position in this new era of food security, equipping them with an expanded product line that enables them to capitalize on their growing footprint, reaching more customers, more often, while continuing their track record of strong and consistent growth.
Neogen Corporation develops and markets comprehensive solutions dedicated to food and animal safety, operating with the intention to “Every day, protect the people and animals we care about.”
The company’s Food Safety segment 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 segment is a leader in the development of genomic solutions along with the manufacturing and distribution of a variety of animal healthcare products, including diagnostics, pharmaceuticals, veterinary instruments, wound care, and disinfectants, as well as rodent and insect control solutions.