Neogen Acquires CAPInnoVet For Undisclosed Sum

Neogen Corporation NEOG has acquired CAPInnoVet, Inc, an Atlanta-based companion animal health company. Deal terms were not disclosed.
CAPInnoVet, founded in 2014, provides pet medications to the veterinary market.
Neogen's acquisition of CAPInnoVet will provide entry into the fast-growing over $12 billion retail parasiticide market.
CAPInnoVet will integrate into Neogen's Animal Safety business segment, including 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.
Price Action: NEOG stock is down 3.09% at $40.10 during the market session on the last check Monday.

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