REG - Kerry Group PLC - Kerry to acquire Lactase Enzymes Business

KerryAnnouncement

12/12/2023 16:15

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RNS Number : 5363W  Kerry Group PLC  12 December 2023

 

12 December 2023

LEI: 635400TLVVBNXLFHWC59

 

KERRY GROUP

Kerry to acquire Lactase Enzymes Business

Kerry Group plc ("Kerry"), the global taste & 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 ("Chr. Hansen") and
Novozymes A/S ("Novozymes") (together the "Lactase Enzymes Business") on a
carve out basis¹. This 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 and Enmex². 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 €40m
in 2022 with sales in over 50 countries. Total consideration is €150m
subject to routine closing adjustments, with the acquisition expected to close
in the first half of 2024.

 

¹ Acquisition comprises 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.

² Acquisition of c-LEcta GmbH completed in March 2022 and Enmex S.A. de C.V.
in December 2021.

ENDS

 

About Kerry

Kerry is a world leading taste and nutrition partner for the food, beverage
and pharmaceutical markets. We innovate with our customers to create great
tasting products, with improved nutrition and functionality, while ensuring
better impact for the planet. Our leading consumer insights, global RD&A
team of 1,100+ food scientists and extensive global footprint enable us to
solve our customers' complex challenges with differentiated solutions. At
Kerry, we are driven to be our customers' most valued partner, creating a
world of sustainable nutrition, and to reach over 2 billion consumers with
sustainable nutrition solutions by 2030. For more information,
visit www.kerry.com (http://www.kerry.com) .

 

     CONTACT INFORMATION

     Investor Relations
     Marguerite Larkin, Chief Financial Officer
     +353 66 7182292 | investorrelations@kerry.ie

     William Lynch, Head of Investor Relations
     +353 66 7182292 | investorrelations@kerry.ie

     Media
     Catherine Keogh, Chief Corporate Affairs & Brand Officer
     +353 45 930188 | corpaffairs@kerry.com

     Website
     www.kerry.com

 

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