Neogen buys food diagnostics company Megazyme

Neogen Corporation has acquired Megazyme, a supplier of analytical solutions used by quality control laboratories in the food and beverage industry.

Megazyme, which is based in Ireland, will continue to operate as a standalone business and will be managed through Neogen’s European operations in Scotland.

Founded in 1988, Megazyme initially focused on developing and refining analytical methods used to measure the carbohydrates and enzymes in grain and cereal products that affect quality. The company has since expanded its activities to serve the wine, dairy and food industries.

“The integration of the Megazyme product line into Neogen’s traditional food safety products will allow us to expand our commercial relationships across food companies and ensure not only safe food, but the highest quality and nutritional content,” said Dr. Jason Lilly, Neogen’s vice president of international business.

Doug Hopek, Neogen’s senior director and head of corporate development, added:  “Neogen’s acquisition of Megazyme provides a natural and complementary expansion of our food diagnostics portfolio while aligning with a mission of providing comprehensive leading solutions to global food producers.”

Megazyme’s co-founder and CEO, Dr. Barry McCleary, will continue to advise Neogen in the area of food quality diagnostics.

“I am honoured to be part of such a great company and look forward to working with Neogen to develop and market new and innovative dietary fibre and carbohydrate analysis products and solutions,” said McCleary.

The financial terms of the agreement have not been disclosed.

Last year, Neogen acquired Chile-based Magiar Chilena, a distributor of food, animal and plant diagnostics, for an undisclosed sum.