Kerry Group: to acquire Lactase Enzymes Business

Tralee / IE. (kg) Irish Kerry Group PLC , the global taste and nutrition company, announces it 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 (together the «Lactase Enzymes Business») on a carve out basis. The acquisition comprises certain trade and assets of Chr. Hansen’s global lactase enzyme business and 100 percent of the share capital of Nuocheng Trillion Food (Tianjin) Company Limited, a Chinese subsidiary of Novozymes. The 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» (03|2022) and «Enmex» (12|2021). 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 EUR 40 million in 2022 with sales in over 50 countries. Total consideration is EUR 150 million subject to routine closing adjustments, with the acquisition expected to close in the first half of 2024.

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