Novozymes and Chr. Hansen have entered into an agreement to merge, creating a global biosolutions partner with a broad biological toolbox and a diversified portfolio.
According to a joint news release, the proposed combination of Novozymes A/S and Chr. Hansen Holding A/S will comprise a global talent pool of 10,000 employees around the world.
The reach of a combined group, aligned with the discovery and applied research capabilities from a network of 38 research and development (R&D) and application centers and 23 manufacturing sites, will provide customers with a partner with both global scale and local presence. The merger also brings together approximately 2,000 employees globally focused on R&D with over EUR 350 million reinvested into R&D annually, representing an estimated 10-11 percent of combined sales.
“The combination of two strategically complementary companies with a shared purpose and advanced capabilities will show the world the true power of biosolutions,” said Ester Baiget, president and CEO of Novozymes. “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.”
Upon completion of the statutory merger, Baiget would assume leadership of the combined group as CEO. The chief financial officer (CFO) would be Lars Green, the current CFO of Novozymes. The combined company will initially operate under the name Novozymes A/S with Chr. Hansen registered as a secondary name. Novozymes and Chr. Hansen will jointly develop a name and brand of the combined company, and will be headquartered in Denmark.
The completion of the merger is expected to be in Q4 calendar year 2023/Q1 calendar year 2024.
PHOTO: ©Novozymes
Learn more about Chr. Hansen in this New AG International Leader Profile, here.
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