LONDON, UK: Kerry Group has entered into a definitive agreement to acquire part of the global lactase enzyme business of Chr. Hansen Holding A/S and Novozymes A/S on a carve out basis.
This acquisition is subject to European Commission approval of Kerry as a buyer and forms part of the Novozymes and Chr. Hansen merger approval process.
The Lactase Enzymes Business which includes NOLA® Products, further enhances Kerry’s biotechnology solutions capability following the acquisitions of c-LEcta and Enmex.
This acquisition adds enzyme technology which helps create lactose-free and sugar reduced dairy products, while preserving their authentic clean taste. Global demand for lactase is being driven by increased awareness of lactose intolerance, while many consumers are also choosing lactose-free for lifestyle and health reasons.
The Lactase Enzymes Business had attributable revenue of approximately €40m in 2022 with sales in over 50 countries. Total consideration is €150m subject to routine closing adjustments, with the acquisition expected to close in the first half of 2024.
Kerry Group is an international leader in taste and nutrition innovation, creating ingredients for products people enjoy and feel better consuming. It is a public food company headquartered in Ireland, with operations in over 150 countries.
It was founded in 1972 as a dairy cooperative and has since expanded into various sectors of the food, beverage and pharma industries. Some of its well-known brands include Cheestrings, Dairygold, LowLow and Richmond.