Neogen acquires Lab M Holdings
Neogen will maintain Lab M's current facility, and its operations will be managed by Neogen's Scotland-based subsidiary, Neogen Europe
US company Neogen Corporation has acquired the stock of UK-based Lab M Holdings, a developer, manufacturer and supplier of microbiological culture media and diagnostic systems. Lab M is headquartered in an accredited facility in Heywood, near Manchester. Neogen will maintain Lab M's current facility, and its operations will be managed by Neogen's Scotland-based subsidiary, Neogen Europe.
Lab M was founded in 1971, and has grown into a leading provider of microbial testing and diagnostic products for the global food, water, industrial and clinical testing markets. The company currently sells into more than 70 countries worldwide, and has several large customers in the EU, Middle East and India.
Neogen develops and markets products dedicated to food and animal safety. The company'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.
'The combination of Lab M's quality products with our Acumedia product line will make Neogen a leading global company in the traditional microbiology market, as well as give us new tools we can incorporate into our food safety diagnostics to enhance our products,' said James Herbert, Neogen's CEO and chairman.
'Adding Lab M's complementary products and new capabilities to ours will greatly strengthen what we can offer Neogen's existing food safety customers, as well as expand the reach of Neogen's existing products to Lab M's wide-ranging customer base,' said Dr Stephen Holmes, managing director of Neogen Europe. 'Lab M's prepared media is a new product line for us, and its patents and licences will greatly enhance our efforts to develop new products to detect foodborne pathogens.'
Terms of the agreement were not disclosed.