Kerry Group Buys Novozymes, Chr. Hansen Assets for EUR150 Million

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)

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