The transaction is expected to close in the first half of January 2021
Novozymes has announced its acquisition of Microbiome Labs, which produces a portfolio of proprietary probiotic and microbiome solutions in the consumer health industry.
“Within a few years, Microbiome Labs has built a solid market position and become a key opinion leader on the microbiome in the consumer health industry, and I am very happy to welcome Microbiome Labs to the Novozymes family. With its solid product portfolio and position with health practitioners, the company is a natural fit and matches our strategy of winning through scientifically proven solutions with specific health benefits,” said Ester Baiget, President and CEO of Novozymes.
“Probiotics for human use is a selected growth area for Novozymes, and it brings the opportunity of advancing our activities within human health. This is an attractive and relatively young industry and, by acquiring Microbiome Labs, we gain a broader portfolio and a strong position in the North American probiotics market. Combined with our organically developed activities in OneHealth, we ensure a strong foundation for future growth”.
Novozymes has established the brand OneHealth to market solutions within human health under one umbrella. The aim is to help people live healthier and better lives by use of probiotics and enzymes.
“Novozymes is the right home for us. We get global market access and world class science to develop new solutions combining enzymes and probiotics to create clinically-proven solutions that improve human health and well-being,” said Dr Tom Bayne, CEO at Microbiome Labs.
The acquisition gives Novozymes broader access to the human probiotics supplements market and an entry point into the important North American market.
Novozymes is acquiring 100% of the equity in Microbiome Labs for a cash payment of $125m. The share purchase agreement includes an earn-out model, contingent on 2022 sales targets, with a potential maximum pay out of ~100% of the up-front cash payment.