UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
Pursuant to Section 13 OR 15(d)
of The Securities Exchange Act of 1934
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| Item 2.01 | Completion of Acquisition of Disposition of Assets |
On September 20, 2021, Neogen Corporation announced that it had acquired Atlanta-based CAPInnoVet, Inc., a companion animal health company that provides pet medications to the veterinary market. CAPInnoVet was founded in 2014 as a key provider of differentiated companion animal health products, providing better access to high-quality and high-value pet medications.
Neogen’s acquisition of CAPInnoVet will provide entry into the fast-growing $12B+ retail parasiticide market. CAPInnoVet will integrate into Neogen’s Animal Safety business segment, which includes veterinary instruments, pharmaceuticals, vaccines, and diagnostic products.
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 Section 18 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.
| Item 9.01 | Financial Statements and Exhibits |
(d) Exhibits
| 99.1 | Press Release dated September 20, 2021 | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) | |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| NEOGEN CORPORATION | ||||||
| (Registrant) | ||||||
| Date: September 22, 2021 | ||||||
| /s/ Steven J. Quinlan | ||||||
| Steven J. Quinlan | ||||||
| Vice President & CFO | ||||||
Exhibit 99.1
FOR IMMEDIATE RELEASE
CONTACT: Doug Jones, Chief Commercial Officer
517.372.9200, djones@neogen.com
NEOGEN acquires CAPInnoVet, Inc.
LANSING, Mich., September 20, 2021 —NEOGEN Corporation (NASDAQ: NEOG) announced today that it has acquired Atlanta-based CAPInnoVet, Inc., a companion animal health company that provides pet medications to the veterinary market.
CAPInnoVet was founded in 2014 as a key provider of differentiated companion animal health products, providing better access to high-quality and high-value pet medications.
NEOGEN’s acquisition of CAPInnoVet will provide entry into the fast-growing $12B+ retail parasiticide market. CAPInnoVet will integrate into NEOGEN’s Animal Safety business segment, which includes veterinary instruments, pharmaceuticals, vaccines, and diagnostic products.
“The acquisition of CAPInnoVet provides NEOGEN a strategic pathway into the parasiticide market and naturally aligns within our Animal Safety business segment,” said Doug Jones, NEOGEN’s Chief Commercial Officer. “We are very excited for the team at CAPInnoVet to join the NEOGEN family.”
“We are very excited to be joining the NEOGEN team. Becoming a part of NEOGEN will allow us to not only further advance our vision of providing high-quality pet medications at a significant value to pet owners but also join a company that has similar values,” said Rudy Hauser, CAPInnoVet co-founder and Chief Executive Officer. “I would like to thank the CAPInnoVet team for their commitment and dedication to making this company a success. We are extremely appreciative of their contributions; we certainly would not have been this successful without them, and for that, we are deeply grateful.”
The terms of the agreement were not disclosed.
NEOGEN Corporation develops and markets comprehensive solutions dedicated to food and animal safety. 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.
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Document and Entity Information |
Sep. 20, 2021 |
|---|---|
| Cover [Abstract] | |
| Entity Registrant Name | NEOGEN CORP |
| Entity Incorporation State Country Code | MI |
| Amendment Flag | false |
| Entity Central Index Key | 0000711377 |
| Document Type | 8-K |
| Document Period End Date | Sep. 20, 2021 |
| Entity File Number | 0-17988 |
| Entity Tax Identification Number | 38-2367843 |
| Entity Address, City or Town | 620 Lesher Place Lansing |
| Entity Address, Address Line One | 620 Lesher Place |
| Entity Address, State or Province | MI |
| Entity Address, Postal Zip Code | 48912 |
| City Area Code | 517 |
| Local Phone Number | 372-9200 |
| Written Communications | false |
| Soliciting Material | false |
| Pre Commencement Tender Offer | false |
| Pre Commencement Issuer Tender Offer | false |
| Security 12b Title | Common Stock, $0.16 par value per share |
| Trading Symbol | NEOG |
| Security Exchange Name | NASDAQ |
| Entity Emerging Growth Company | false |
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