“We are excited about the acquisition of UAS Labs and look forward to welcoming all its talented people, to join forces in our shared purpose – to develop and expand the global probiotics market, and we look forward to building upon the strengths of both companies,” Mauricio Graber, CEO of Chr. Hansen, said in a written statement. “The two UAS Labs production facilities in the United States will increase our flexibility and capacity to produce, and also create a better balance in our geographical footprint. We believe that the UAS Labs acquisition will accelerate our efforts to grow our health and nutrition business globally, especially in the Asian markets.”
“The leadership and strategic vision of UAS Labs’ executive team, who we originally partnered with in this investment, took UAS Labs to a new level within the global probiotics industry. WE are thrilled to have partnered with them. The company is well positioned for continued growth and success within Chr. Hansen’s business platform,” Kent Velde, president of Lakeview Equity Partners, said.
UAS Labs is being acquired from the private equity fund Lakeview Equity Partners, management team, and other shareholders at a transaction value, net of tax assets, of $530 Million. UAS Labs has 230 employees and is expected to generate revenues of around $85 million and EBITDA above $30 million before synergies in 2020.
UAS Labs’ track record is based on high-potency, multi-species blends of probiotics used in dietary supplements, with a range of application areas, including six proprietary strains targeting digestive health, immune modulation, infant probiotics, weight management, and more. Its two GMP facilities are located in Wisconsin, close to Chr. Hansen’s own Milwaukee-based facility, which will aid in the phasing of CAPEX products in the coming years.
The closing of the transaction is pending standard U.S. regulatory review.
“Over the past seven years I have been honored to lead the team at UAS Labs with our science-backed probiotic solutions,” Kevin Mehring, CEO of UAS Labs, said. “WE have grown and matured in our strain to solution manufacturing capabilities and commitment to clinical research. I could not be more proud of all the dedicated individuals that have worked tirelessly to get us to this point. We are very excited to join Chr. Hansen, and by our shared vision and future.”