Neogen rises after $130 million sale of cleaner and disinfectants unit to Kersia Group
ReutersApr 21, 2025 1:42 PM
Food and animal safety products company Neogen's NEOG.O shares rise 8.3% to $4.75
NEOG says it has agreed to sell its global cleaners and disinfectants business to privately-held French company Kersia Group for $130 million in cash at closing
Transaction expected to be accretive to margins - NEOG
Deal expected to close in Q1 2026, co says
Net proceeds will be used to fully repay the $100 million drawn on the co's revolving credit facility in the recent term loan refinancing
"The sale of our cleaners and disinfectants business further focuses Neogen on food safety diagnostics," says CEO John Adent
As of last close, NEOG has fallen 63.8% YTD
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