Neogen Corporation acquires SyrVet Incorporated based in Waukee, Iowa for undisclosed sum.
M2 EQUITYBITES-July 2, 2013-Neogen Corporation acquires SyrVet Incorporated based in Waukee, Iowa for undisclosed sum(C)2013 M2 COMMUNICATIONS http://www.m2.com
Animal safety company Neogen Corporation (NasdaqGS:NEOG) said on Monday that it has acquired the assets of SyrVet Incorporated for an undisclosed amount.
Based in Waukee, Iowa, SyrVet is a veterinary instrument business that supplies in more than 30 countries worldwide. Its product line ranges from animal handling products to artificial insemination, providing the company with significant shelf space in major farm store suppliers throughout the US. Most of its products are used in the production of food animals; however, its Horse Sense product line provides a wide array of tack products to the professional equine market.
The addition of the SyrVet product line to Neogen's existing veterinary instrument business broadens the latter's product offering.
According to Neogen, about 30% of SyrVet's sales come from international markets, primarily in Mexico and Latin America.
Neogen Corporation would continue to operate from the SyrVet location in Iowa through a transition period, but ultimately product engineering, manufacturing, and distribution would be relocated to its facilities in Lansing, Michigan, and Lexington, Kentucky.
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|Publication:||M2 EquityBites (EQB)|
|Date:||Jul 2, 2013|
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