Market Updates, Products & Ingredients

Kerry to Acquire the Lactase Enzymes Business of Chr. Hansen and Novozymes

The company will purchase the businesses in response to demand for lactose-free and low-sugar dairy products.

Kerry announced that it’s entered into a definitive agreement to purchase part of the global lactase enzyme business of Chr. Hansen Holding A/S and Novozymes A/S, on a carve-out basis.
 
The acquisition, which is subject to European Commission approval, forms part of the Novozymes and Chr. Hansen merger approval process. Specifically, Kerry will be buying certain trade and assets of Chr. Hansen’s global lactase enzyme business, and 100% of the share capital of Nuocheng Trillion Food (Tianjin) Co., Ltd, a Chinese subsidiary of Novozymes.
 
The purchase of this lactase enzymes business includes the NOLA range of enzymes, which can reduce sugar and eliminate lactose from dairy products while preserving their 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 to be acquired by Kerry had an attributable revenue of approximately €40m in 2022 with sales in over 50 countries. The total consideration is €150, pending routine closing adjustments, and the acquisition is expected to close in the first half of 2024.
 
This acquisition follows other acquisitions which have improved Kerry’s capabilities for biotechnology solutions, such as the 2022 acquisition of c-LEcta, and the 2021 acquisition of Enmex.
 

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