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Neogen® Forms Genomics Relationship with Performance Food Group Neogen® Corporation (NASDAQ: NEOG) announced today that it has formed a genomics relationship with Performance Food Group (NYSE: PFGC), making the...

Key Takeaway: Neogen Corporation has announced a new genomics partnership with Performance Food Group, becoming the official genomics provider for their PathProven service. This collaboration aims to improve food traceability, quality, and sustainability within the protein supply chain using Neogen's DNA testing capabilities. The partnership is expected to integrate Neogen's technology into Performance Food Group's protein sourcing programs, driving efficiencies and reinforcing their commitment to food security.
Price reaction · baseline $12.14 (2024-04-17 close) · hit after-hours · clean, no other NEOG news in the window
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POSITIVE FACTORS

  • Neogen forms a strategic partnership with Performance Food Group.
  • The genomics technology will enhance food traceability and quality.
  • There is potential for improved efficiency and sustainability in the protein supply chain.

Full Press Release Details

LINCOLN, Neb. , April 18, 2024 /PRNewswire/ -- Neogen® Corporation (NASDAQ: NEOG ) announced today that it has formed a genomics relationship with Performance Food Group (NYSE: PFGC ), making the company the official genomics provider for the food group's PathProven service.
With the support of Neogen genomics' world-leading DNA testing capabilities, Performance Food Group's PathProven food trace technology can trace food products back to the feedlot, ocean, or farm that they came from, allowing the entire production process to be carefully inspected and regulated, ensuring both the quality and origin of these products. This relationship presents a new opportunity for Neogen to help improve efficiency and sustainability within the protein supply chain.
"Neogen is incredibly proud to partner with Performance Food Group and further our commitment to fueling a brighter future for food security," said Tom Schultz , Senior Director of USAC Livestock Production at Neogen. "Through this relationship, Performance Food Group will implement Neogen's portfolio, ranging from food security to discovery, within its protein production process. This deeper integration of genomics technology within sourcing programs will help drive greater protein efficiencies."
"At Performance Food Group, we believe in transparency, which is why we have a verifiable program utilizing DNA. Our flagship beef program, Braveheart Black Angus Beef, redefines beef programs with our rigid PathProven Program and DNA testing, which verifies Angus genetics," said Glenn Strickholm , President of Protein Brands at Performance Food Group. "This truly separates our program from other certified beef programs, and Neogen is a big part of that difference. We are so excited about this partnership, and we look forward to seeing how it evolves in the future."
To learn more about Performance Food Group's PathProven food trace technology powered by Neogen's genomic services, visit www.performancefoodservice.com .
About Performance Food Group
Performance Food Group is an industry leader and one of the largest food and food service distribution companies in North America with more than 150 locations in North America . Founded and headquartered in Richmond, Virginia , PFG, and their family of companies, market and deliver quality food and related products to 300,000+ locations, including independent and chain restaurants; businesses, schools, and healthcare facilities; vending and office coffee service distributors; and big box retailers, theaters and convenience stores. To learn more about PFG, visit pfgc.com.
Neogen Corporation is committed to fueling a brighter future for global food security through the advancement of human and animal well-being. Harnessing the power of science and technology, Neogen has developed comprehensive solutions spanning the Food Safety, Livestock, and Pet Health & Wellness markets. A world leader in these fields, Neogen has a presence in over 140 countries with a dedicated network of scientists and technical experts focused on delivering optimized products and technology for its customers.
Kenny Stauffer | Director of Key Accounts, Neogen USAC [email protected]

Frequently Asked Questions

What partnership did Neogen form recently?

Neogen partnered with Performance Food Group to provide genomics services.

What technology does Performance Food Group utilize?

They use PathProven food trace technology that tracks food origins through DNA.

How does this partnership enhance food quality?

It ensures careful inspection and regulation of food products from source to table.

What is the significance of Neogen's DNA testing?

Neogen's DNA testing enhances transparency and efficiency in the protein supply chain.

What is Neogen's commitment mentioned in the announcement?

Neogen is dedicated to improving global food security through scientific advancements.

Last updated: Apr 18, 2024