NEOGEN CORPORATION (NASDAQ:NEOG) Files An 8-K Completion of Acquisition or Disposition of Assets
Item2.01
|
Completion of Acquisition of Disposition of Assets |
On December1, 2016, Neogen Corporation (Company) issued a press
release announcing that, effective that same date, it had
acquired United Kingdom-based Quat-Chem Ltd. a chemical company
specializing in the development, manufacture and sale of
agricultural, industrial, and food processing biocidal hygiene
products, including cleaners and disinfectants. Quat-Chem Ltd. is
a 20-year-old company which manufactures a full line of complete
disinfectant and cleaner products for dairy hygiene and poultry
and swine biosecurity applications. The company sells its
products on a global basis, with a focus on the United Kingdom,
European Union, Middle East and Asia, including a particular
focus on China.
Consideration for the purchase, which was from existing cash
balances, was approximately $20.5 million. Revenues for the
acquired business in the past twelve months were approximately
$12 million. Neogen will maintain and operate Quat-Chems existing
manufacturing facilities near Manchester, England.
A copy of the press release is attached as Exhibit 99.1 to this
report. This Form 8-K and the attached exhibit shall not be
deemed filed for purposes of Section18 of the Securities Exchange
Act of 1934, as amended, and are not incorporated by reference
into any filing of the Registrant, whether made before or after
the date of this report, regardless of any general incorporation
language in the filing.
| Item9.01 | Financial Statements and Exhibits |
| (d) | Exhibits |
| 99.1 | Press Release dated December1, 2016 |
About NEOGEN CORPORATION (NASDAQ:NEOG)
Neogen Corporation develops, manufactures and markets a range of products and services dedicated to food and animal safety. The Company operates through two segments: Food Safety and Animal Safety. The Food Safety segment produces and markets diagnostic test kits and related products used by food producers and processors to detect harmful natural toxins, foodborne bacteria, allergens and levels of general sanitation. The Animal Safety segment is primarily engaged in the production and marketing of products dedicated to animal health, including a range of consumable products marketed to veterinarians and animal health product distributors. The Animal Safety segment also provides genetic identification services. Additionally, the Animal Safety segment produces and markets rodenticides, disinfectants and insecticides to assist in the control of rodents and disease in and around agricultural, food production and other facilities. NEOGEN CORPORATION (NASDAQ:NEOG) Recent Trading Information
NEOGEN CORPORATION (NASDAQ:NEOG) closed its last trading session down -1.46 at 61.59 with 128,513 shares trading hands.
