Novozymes and Chr. Hansen Merge

Danish food ingredients and enzymes makers Novozymes and Chr. Hansen have agreed to merge, the two companies announced.

While both companies’ main business is producing enzymes, Chr. Hansen focuses more on enzymes and microbials for the food sector, while Novozymes’ largest business areas include enzymes for household products, food and beverages and biofuels. The merger resulted in a USD12.3bn deal, writing history as the largest Danish merger on record and will close by the end of 2023. 

“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 and reach annual revenue synergies upwards of 200 million euros, the company said.

The merger is contingent on both approvals via extraordinary general meetings within both companies, as well as regulatory approval from authorities.