BRIEF—Novozymes and Chr Hansen to merge

Today, Denmark-based companies Novozymes and Chr Hansen announced they have entered into an agreement to create a leading global biosolutions partner through a statutory merger of the two companies.

000The combination is expected to unleash the full potential of biological solutions and generate significant value for all stakeholders and society at large.

No financial terms of the transaction have been disclosed.

The completion of the merger is currently expected to be in fourth-quarter of calendar year 2023/first-quarter calendar year 2024,

Novo Holdings, the largest shareholder in both Novozymes and Chr Hansen, has affirmed its confidence in the two companies being a perfect match, and that a transaction would create a global leader in biosolutions that would capitalize on attractive growth opportunities while serving societal needs.

The combined group would have annual revenue of approximately 3.5 billion euros ($3.69 billion), and Novozymes estimates the current addressable market for biological solutions to be around 15 billion euros and growing.