In Canada, Iogen Corporation announced today that Danish enzyme manufacturer Novozymes will acquire its wholly owned industrial enzyme business, Iogen Bio-Products, for a purchase price of $67.45 million and potential earn-out payments up to $12.5 million. The deal provides Novozymes with all commercial rights to Iogen Bio-Products’ existing product portfolio, pipeline, facilities and know-how.
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.
The Novozymes acquisition does not include the purchase of assets that relate to Iogen Corporation’s second generation biofuels business. Closing of the acquisition is anticipated late February 2013, awaiting finalization of corporate formalities.
Iogen Bio-Products, which entered the enzyme business in 1991, makes and sells enzymes used to improve operations for customers in the pulp and paper, textile, grain processing and animal feed industries. The company has 70 employees and sells more than 20 products globally. All 70 employees will continue to work in Ottawa at the company’s enzyme manufacturing facility.
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