Novozymes and Chr. Hansen are merging, aiming to provide “efficient, scalable, and sustainable biosolutions,” they announced. Uniting and optimizing the innovation platforms of both companies will bring together approximately 2,000 employees globally, with over EUR 350 million reinvested into R&D annually (an estimated 10-11% of combined sales). The combined group would have annual revenue of approximately EUR 3.5 billion. Novozymes estimates the current addressable market for biological solutions to be around EUR 15 billion and growing.
The combination of @Novozymes and @Chr_Hansen is expected to unleash the full potential of biological solutions. Together, they will meet customers’ growing demands for efficient, scalable, and sustainable biosolutions:
More: https://t.co/AqzSJttvr8 #biotech #rethinktomorrow pic.twitter.com/ZY3eIcFJbm
— Novozymes (@Novozymes) December 12, 2022
Ester Baiget, President and CEO of Novozymes, said: “The combination of two strategically complementary companies with a shared purpose and advanced capabilities will show the world the true power of biosolutions. Today’s announcement is fully aligned with Novozymes’ strategy and is another step towards unlocking additional growth opportunities. 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.”
Mauricio Graber, President and CEO of Chr. Hansen, said: “I’m proud to share that Novozymes and Chr. Hansen are proposing to join forces to create a Danish-based global biosolutions partner based on our strong complementary technology platforms, highly dedicated employees and customer-centric approaches. Building on shared purpose-driven values and cultures, as well as an unquestionable business rationale, the proposed combination of these two iconic Danish companies represents a natural next step towards addressing the needs of tomorrow.”
Lars Rebien Sørensen, Chairman of Novo Holdings and Novo Nordisk Foundation, also said in the announcement: “The two companies are 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.”