Novozymes Acquires Enzyme Business from Iogen Corporation
News Feb 04, 2013
Novozymes acquires Iogen Bio-Products, the industrial enzyme business of Ottawa-based Iogen Corporation for CAD 67.5 million (approximately DKK 370 million) and potential earn-out payments of up to CAD 12.5 million (approximately DKK 70 million). The deal provides Novozymes with all commercial rights to Iogen Bio-Products’ existing product portfolio, pipeline, facilities and know-how. Novozymes acquires all of Iogen Corporation’s industrial enzyme business. The acquisition does not include the purchase of assets that relate to Iogen Corporation’s bioenergy process technologies.
Iogen Bio-Products, which entered the industrial enzyme industry in 1991, produces and sells enzymes for the pulp & paper, textile, grain-processing and animal feed industries. The company has close to 70 employees and sells more than 20 products globally.
“Iogen Bio-Products is a good fit for Novozymes,” says Andrew Fordyce, Vice President of Global Enzyme Sales and Customer Solutions at Novozymes. “We get a number of products that complement our existing product portfolio and welcome a talented group of employees who are very good at developing and producing industrial enzymes.”