Kerry Group to Acquire Lactase Enzyme Business from Chr. Hansen and Novozymes
December 14, 2023
Kerry Group PLC has agreed to acquire part of the global lactase enzyme business carved out from Chr. Hansen Holding A/S and Novozymes A/S for a total consideration of €150 million (subject to closing adjustments). The deal includes certain trade and assets of Chr. Hansen's global lactase business and 100% of Nuocheng Trillion Food (Tianjin) Co., Ltd.; the lactase business generated about €40 million in revenue in 2022 and the transaction is expected to close in the first half of 2024 subject to European Commission approval.
- Buyers
- Kerry Group PLC
- Targets
- Chr. Hansen global lactase enzyme business, Nuocheng Trillion Food (Tianjin) Co., Ltd.
- Sellers
- Chr. Hansen Holding A/S, Novozymes A/S
- Industry
- Food & Beverage
- Location
- Denmark
- Transaction Type
- Buyout
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