12/12/2022
Bioscience firms Novozymes and Chr. Hansen to merge in biggest-ever Danish deal
Biotechnology firms Novozymes
and Chr. Hansen agreed to combine in what will be the biggest-ever merger between two Danish companies.
The merger, announced in a joint statement Monday, will see the dissolution of Chr. Hansen and is expected to complete in the fourth quarter of 2023.
The new biosolutions group will have annual revenues of approximately 3.5 billion euros ($3.7 billion), the companies said.
Novozymes CEO Ester Baiget and CFO Lars Green will continue in their positions in the combined group.
“Novozymes and Chr. Hansen share the strong conviction that our combined scale, know-how, commercial strengths, and innovation excellence will drive value for our shareholders, customers, and society at large by providing the sustainable solutions the world so urgently needs,” Baiget said.
Novo Holdings, the largest shareholder in both Novozymes and Chr. Hansen, said the two companies were a “perfect match.”
“Chr. Hansen with its expertise in microbials and Novozymes with its background in enzymes. Combining the two companies will create a global leader in biosolutions,” Novo Holdings Chairman Lars Rebien Sørensen said.
