Kerry Group plc, the global taste & nutrition company, has finalized an 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, pending approval from the European Commission as a buyer. This acquisition is a crucial step in the Novozymes and Chr. Hansen merger approval process.
The Lactase Enzymes Business, which includes NOLA® Products, adds to Kerry’s biotechnology solutions capability following the recent acquisitions of c-LEcta and Enmex. This strategic move will enhance Kerry’s enzyme technology, aiding in the creation of lactose-free and sugar reduced dairy products while preserving their authentic clean taste. The global demand for lactase is driven by increased awareness of lactose intolerance, as well as a growing number of consumers choosing lactose-free options for lifestyle and health reasons.
The Lactase Enzymes Business generated approximately €40 million in revenue in 2022, with sales in over 50 countries. The total consideration for this acquisition is €150 million, subject to routine closing adjustments, and the acquisition is expected to be completed in the first half of 2024.
