Kerry Group Buys Novozymes, Chr. Hansen Assets for EUR150 Million
December 12 2023 - 12:21PM
Dow Jones News
By Christian Moess Laursen
Kerry Group has bought assets from Danish biotechnology
companies Novozymes and Chr. Hansen for a total consideration of
150 million euros ($161.5 million).
The deal--expected to close in the first half of 2024--comprises
certain trade and assets of Chr. Hansen's global lactase enzyme
business and the entire share capital of Nuocheng Trillion Food, a
Chinese subsidiary of Novozymes.
The Ireland-based food company said Tuesday that the acquisition
improves its ability to create biotechnology solutions following
acquisitions of c-LEcta and Enmex in 2022 and 2021,
respectively.
It is subject to the European Commission's approval of Kerry as
a buyer, and forms part of the Novozymes and Chr. Hansen
merger-approval process. Earlier today, the executive arm of the EU
conditionally approved the merger.
The assets have attributable revenue around EUR40 million in
2022, with sales in more than 50 countries, Kerry Group said.
Write to Christian Moess Laursen at christian.moess@wsj.com
(END) Dow Jones Newswires
December 12, 2023 12:06 ET (17:06 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
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