Novonesis Acquires DSM-Firmenich Stake for $1.6 Billion
COPENHAGEN (Reuters) -Novonesis said on Tuesday that it had agreed to buy the stake of its partner, Swiss-Dutch chemical manufacturer DSM-Firmenich, in their joint enzymes venture for 1.5 billion euros ($1.55 billion).
The Danish company, created from the merger of food ingredients and enzymes makers Novozymes and Chr. Hansen, said the so-called Feed Enzyme Alliance would be dissolved and Novonesis would take over its sales and distribution activities.
"Growing global protein demand, coupled with increasing land and water scarcity, requires innovative solutions," Novonesis CEO Ester Baiget said in a statement.
"Now with an expanded presence across the animal biosolutions value chain, we are better positioned to create more value for customers with sustainable value adding biosolutions".
(Reporting by Stine Jacobsen, editing by Terje Solsvik)
