Kerry acquires of lactose-free enzyme technology business
Source: The DairyNews
Taste and nutrition company Kerry Group Plc. has inked an agreement to acquire a portion of the global lactase enzyme business from Chr. Hansen Holding A/S and Novozymes A/S.
This deal, contingent on European Commission approval, includes specific assets of Chr. Hansen's lactase enzyme business and full ownership of Nuocheng Trillion Food (Tianjin) Co. Ltd, a Chinese subsidiary of Novozymes.
The acquisition aligns with Kerry's strategy to enhance its biotechnology solutions, bringing enzyme technology that facilitates the creation of lactose-free and sugar-reduced dairy products while maintaining taste. With global demand rising due to increased awareness of lactose intolerance, this move positions Kerry to meet the evolving preferences of consumers worldwide. The transaction, valued at €150 million, is anticipated to conclude in the first half of 2024, pending regulatory approval.
According to Kerry, 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 €40 million in 2022 with sales in over 50 countries.
The acquisition aligns with Kerry's strategy to enhance its biotechnology solutions, bringing enzyme technology that facilitates the creation of lactose-free and sugar-reduced dairy products while maintaining taste. With global demand rising due to increased awareness of lactose intolerance, this move positions Kerry to meet the evolving preferences of consumers worldwide. The transaction, valued at €150 million, is anticipated to conclude in the first half of 2024, pending regulatory approval.
According to Kerry, 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 €40 million in 2022 with sales in over 50 countries.
