Neogen Corp. announced July 1 that it has acquired the assets of SyrVet Inc., a veterinary instrument business based in Waukee, Iowa.
SyrVet's product line ranges from animal handling products to sophisticated supplies for artificial insemination, and has earned the company significant shelf space in major farm store suppliers throughout the U.S. The majority of the company's products are used in the production of food animals; however, the company's Horse Sense product line provides a wide array of tack products to the professional equine market.
"The SyrVet acquisition can be viewed as a 'bolt-on' opportunity for Neogen. The SyrVet product line will join Neogen's Ideal Instruments division that has supplied animal health products to the industry for over 82 years," said Dr. Jason Lilly, Neogen vice president of corporate development. "As the trend toward larger, but fewer, food animal producers has continued, it is important for suppliers to those industries to strengthen their operations."
Though many of SyrVet's products are similar to those offered by Ideal Instruments, SyrVet has developed its own distribution system to reach dairy, pork, beef and sheep producers, the announcement said. Also, the addition of the SyrVet product line to Neogen's existing veterinary instrument business broadens its product offering. Approximately 30% of SyrVet's sales come from international markets, primarily in Mexico and Latin America.
A Neogen spokesman indicated the company 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 Neogen facilities in Lansing, Mich., and Lexington, Ky. Terms of the acquisition were not disclosed.