14 December 2023
Kerry Group acquires global lactase enzyme business from Novozymes and Chr. Hansen
We advised the food conglomerate Kerry Group plc on the acquisition of Chr. Hansen's global lactase business and certain related business activities from Novozymes in a competitive carve-out transaction
The transaction includes Chr. Hansen's global lactase enzyme business and certain related business activities from Novozymes, including a factory in Tianjin, China, which is currently used for production for both sellers' lactase businesses. In addition, both sellers have divested a number of IP rights.
The transaction is part of the planned merger between Chr. Hansen and Novozymes, which was approved by the European Commission on Tuesday, subject to the divestiture of the lactase business, including the approval of Kerry as buyer of the lactase business.
The acquisition is the third in a series of recent biotechnology solutions transactions for Kerry and adds enzyme technology to Kerry's business while further strengthening Kerry's capabilities in biotechnology solutions. This ensures the continued supply of high quality, health-conscious foods.