By Business & Finance 
Kerry Group, a food and drinks manufacturing and distribution company that provides nutritional and functional solutions to the food, beverage and pharmaceutical industries, has entered an agreement to acquire the lactase enzymes business of two merging Danish companies, Chr Hansen and Novozymes. The Group is our Company of the Month for January 2024, in association with KPMG.
Acquisition
Food and drinks manufacturing and distribution company Kerry Group is set to acquire the combined lactase enzymes business of bioscience companies Chr Hansen and Novozymes.
The European Commission cleared the proposed merger of the two Danish companies in December. The merging companies stated in November that they wished to sell a part of their new combined global lactase enzyme business.
Kerry Group announced its intent to acquire the lactase enzymes business of the merging companies on Tuesday, December 12th, for a total of €150 million, contingent on the European Commission’s approval. The deal will likely proceed in the first half of this year.
In a statement, Kerry Group said the acquisition “further enhances Kerry’s biotechnology solutions capability following the acquisitions of c-LEcta and Enmex.”
The group contined: “This acquisition adds enzyme technology, which helps create lactose-free and sugar-reduced dairy products, while preserving their authentic clean taste. Global demand for lactase is being driven by increased awareness of lactose intolerance, while many consumers are also choosing lactose-free for lifestyle and health reasons.”
Kerry Group
Kerry Group is a leading agrifood and drink company founded in 1972 and headquartered in Tralee, County Kerry, Ireland.
With over 23,000 employees worldwide, the company’s Taste & Nutrition segment manufactures and distributes a number of solutions and functional ingredients for the global food and beverage industry.
Edmond Scanlon, CEO, Kerry Group, is the son of a Kerry dairy farmer. He joined Kerry Group’s graduate programme in 1996 as a University College Cork graduate.
Dairy Ireland is a division of Kerry Group and is a provider of value-add dairy ingredients and consumer products. Its dairy ingredients product portfolio includes functional proteins and nutritional bases, while its dairy consumer brands can be found in retailers across Ireland the UK.
Company of the Month
The Company of the Month Award, in association with KPMG, recognises outstanding Irish companies. It especially acknowledges those who have made significant contributions to the business community of Ireland.
Recipients of the award are automatically put forward as candidates for the prestigious Company of the Year Award at the annual Business & Finance Awards.
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Business & Finance, Company of the Month
Business & Finance, in association with KPMG, recognises excellence in business through the ‘Company of the Month’ award. The Company of the Month award recognises the company which best demonstrates outstanding business leadership, sustainable growth, innovative strategy, strong financial returns and employee development.
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