A researcher assessments enzymes at a Novozymes facility in Bagsvard, Denmark.
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Biotechnology firms Novozymes and Chr. Hansen agreed to merge in what will be the most important-ever merger between two Danish firms.
The merger, declared 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 yearly revenues of around 3.5 billion euros ($3.7 billion), the organizations claimed.
Novozymes CEO Ester Baiget and CFO Lars Eco-friendly will carry on in their positions in the combined team.
“Novozymes and Chr. Hansen share the sturdy conviction that our combined scale, know-how, business strengths, and innovation excellence will drive value for our shareholders, customers, and modern society at large by providing the sustainable solutions the planet so urgently wants,” Baiget reported.
Novo Holdings, the largest shareholder in both equally Novozymes and Chr. Hansen, stated the two providers ended up a “perfect match.”
“Chr. Hansen with its expertise in microbials and Novozymes with its background in enzymes. Combining the two firms will create a world-wide chief in biosolutions,” Novo Holdings Chairman Lars Rebien Sørensen said.
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