The proposed combination of Novozymes and Chr. Hansen has now been approved by each company’s respective shareholders, and with strong support from the shareholders the two biosolutions companies are now one step closer to uniting. The new company is expected to unleash the full potential of biological solutions and generate significant value for all stakeholders and society at large.
COPENHAGEN, Denmark – March 30, 2023. Today, Novozymes and Chr. Hansen held their respective extraordinary general meetings, and the shareholders of both companies approved the proposed combination. Following completion of the combination, the new company will be science-based, with powerful capabilities and commercial excellence to develop biological solutions that will enable healthier lives, transform food systems, and accelerate towards a climate neutral society. The approval from the shareholders of both Novozymes and Chr. Hansen marks an important milestone towards uniting the two companies.
Ester Baiget, President and CEO of Novozymes, said:
“We are extremely appreciative of the strong support the shareholders of both Novozymes and Chr. Hansen have shown us today. The combination will give us significant opportunities to accelerate growth by providing the solutions of today and delivering the answers of tomorrow. This unique value proposition will enable the new company to retain our highly talented people and attract additional talent to support our continued growth. The world needs biosolutions and with the support of the shareholders, we are now one important step closer to creating a leading global biosolutions partner.”
Cees de Jong, Chair of Novozymes, added:
“The approval from the shareholders of both Novozymes and Chr. Hansen marks an important milestone on our journey towards becoming a combined group and our shareholders have confirmed their support for our strong belief that the two companies will be even better together and generate significant value for all stakeholders. The combination will represent a major leap forward for the global biotechnology industry, customers, and societies that urgently need biosolutions. Together with Chr. Hansen, we will serve as a growth partner to our customers; a value creator to our shareholders; a home to the industry’s top talent; and a company that has a significant, positive impact on society and the planet.”
Mauricio Graber, CEO of Chr. Hansen, said:
“The strong support shown by shareholders today underpins the clear strategic rationale for combining our two companies. With this proposed combination, we will join forces to create a global bioscience partner based on our complementary technology platforms, a customer-centric approach, and highly dedicated employees across both companies. Building on our shared values, the proposed combination of these two iconic Danish companies represents a natural next step towards addressing the needs of tomorrow.”
Dominique Reiniche, Chair of Chr. Hansen, added:
“On behalf of my Board colleagues and the Chr. Hansen management team who have worked hard towards this day over the last few months, I’m proud to witness this historical moment. With Chr. Hansen as a leader in microbials, and Novozymes as a leader in enzymes, we will create a world-class fermentation company. Uniting our two companies is expected to accelerate our already best-in-class performance both in terms of financial and sustainability performance. The combined company will provide the biological solutions necessary to address global megatrends and meet customer demands to produce more, sustainably, and efficiently.”
Unleashing the full potential of biosolutions
Novozymes estimates that the current addressable market for biosolutions is around EUR 15 billion1, and according to the World Economic Forum, the economic impact of biotechnology is expected to grow three times by 2040 driven by growing needs and demands from increasing populations around the world2.
Nations, industries, companies, and consumers are in search for technologies and solutions that allow a better utilization of the world’s resources and support healthy populations. This includes enabling carbon neutrality, building more sustainable agricultural systems, and offering healthier and efficient food and nutrition solutions.
The combination of Novozymes and Chr. Hansen is based on a strong rationale to create a leading global partner with a broad biological toolbox and a diversified portfolio across markets that can help address key global needs in an even stronger way.
Novozymes is a world leader in enzymes, proteins, and bioengineering. Its strong innovation capabilities, R&D pipeline, and ability to scale has allowed the company to develop a specialized portfolio of highly impactful bio-based solutions.
Chr. Hansen is a world leader in microbials that enables more sustainable food systems and contributes positively to global health. With a culture collection of around 40,000 strains, Chr. Hansen produces value-added solutions for customers in dairy, food, and beverage, as well as human, animal, and plant health.
The combined technology toolbox of Novozymes and Chr. Hansen will enable a broad and diversified expansion of the portfolio toward specialized, high-value biosolutions.
Together, Novozymes and Chr. Hansen will comprise a global talent pool of 10,000 diverse and passionate employees around the world, with the expertise to innovate and create value for its customers.
Both Novozymes and Chr. Hansen are companies driven by a powerful purpose to create a better world through biotechnology and the combined group is expected to generate significant value for all stakeholders and society at large while increasing its positive impact on the world.
The completion of the combination remains subject to the satisfaction of a number of conditions, including customary merger control and other regulatory approvals. The closing is expected to be completed in the fourth quarter of 2023 or the first quarter of 2024.
For additional information on the proposed combination, please visit www.power-with-biology.com or www.chr-hansen.com/en/investors/proposed-merger.
The combined group at a glance
ABOUT CHR. HANSEN
Chr. Hansen is a global, differentiated bioscience company that develops natural ingredient solutions for the food, nutritional, pharmaceutical, and agricultural industries. At Chr. Hansen, we are well positioned to drive positive change through microbial solutions. We have worked for over 145 years to enable sustainable agriculture, better food and healthier living for more people around the world. Our microbial and fermentation technology platforms, including our broad and relevant collection of around 40,000 microbial strains, have game-changing potential. Matching customer needs and global trends, we continue to unlock the power of good bacteria to respond to global challenges such as food waste, global health and the overuse of antibiotics and pesticides. As the world's most sustainable food ingredients company, we touch the lives of more than 1 billion people every day. Driven by our legacy of innovation and curiosity to pioneer science, our purpose – To grow a better world. Naturally. – is at the heart of everything we do.
Novozymes is the world leader in biological solutions. Together with customers, partners, and the global community, we improve industrial performance while preserving the planet's resources and helping build better lives. As the world's largest provider of enzyme and microbial technologies, our bioinnovation enables higher agricultural yields, low-temperature washing, energy-efficient production, renewable fuel, and many other benefits that we rely on today and in the future. We call it Rethink Tomorrow.
Tobias Cornelius Björklund