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The acquisition gives Novozymes broader access to the overall consumer health market
Denmark headquartered biotechnology company Novozymes has acquired 100% of the equity in Irish Healthcare company PrecisionBiotics Group Limited for an amount of DKK 600 million (EUR 80 million) on a cash and debt-free basis.
The transaction is structured with an earn-out model, is financed with cash and bank facilities, and does not change the capital structure policy of Novozymes.
The acquisition gives Novozymes broader access to the overall consumer health market and more specifically a stronger entry point into the DKK 40 billion (EUR 5 billion) human probiotic supplements market which is expected to grow with a high-single-digit CAGR over the next 3-5 years.
The acquisition of PrecisionBiotics Group will advance Novozymes’ activities in the area of biological solutions for human oral and gut health – one of the growth pillars in the strategy Better business with biology.