Kerry Group PLC - Tralee, Ireland-based food ingredients maker - Signs deal to buy part of the global lactase enzyme business of Chr Hansen Holding A/S and Novozymes AS on a carve out basis. Total consideration for the acquisition is EUR150 million. The acquisition is subject to approval by the European Commission, and is expected to close in the first half of 2024. It is part of the Novozymes and Chr Hansen merger approval process.
Kerry says that the lactase enzymes business will enhance its biotechnology solutions, as it adds enzyme technology that will help to create lactose-free and sugar reduced dairy products, while preserving "their authentic clean taste". In 2022, the lactase enzymes business had attributable revenue of EUR40 million, with sales in over 50 countries.
Current stock price: EUR74.41, down 2.2% in London on Tuesday
12-month change: down 13%
By Holly Beveridge, Alliance News reporter
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