Novozymes and Chr. Hansen to merge (updated)

Chr Hansen Holding A/S

12/12/2022 07:25

(Adds Novozymes CEO comment, details)
       OSLO, Dec 12 (Reuters) - Danish food ingredients and
enzymes makers Novozymes  NZYMb.CO  and Chr. Hansen  CHRH.CO 
have agreed to merge, the two companies said in a joint
statement on Monday.
    "The combination of two strategically complementary
companies with a shared purpose and advanced capabilities will
show the world the true power of biosolutions," Chief Executive
of Novozymes, Ester Baiget, said in the statement. 
        As part of the merger, which is expected to be completed
in the fourth quarter of 2023, Chr. Hansen will be dissolved.
  
        The combined group will have an annual revenue of around
3.5 billion euros ($3.68 billion) and reach annual revenue
synergies upwards of 200 million euros, the company said.  
  
        Ester Baiget and Novozymes' CFO, Lars Green, will
continue in their positions in the combined group.
  
($1 = 0.9509 euros)
 (Reporting by Terje Solsvik and Nikolaj Skydsgaard, editing by
Essi Lehto)
 ((terje.solsvik@thomsonreuters.com; +47 918 666 70; Reuters
Messaging: terje.solsvik.thomsonreuters.com@reuters.net))