Lallemand to acquire Evolva for $23 million

In Switzerland, Evolva has convened and extraordinary general meeting for 21 December 2023 to approve the sale of Evolva AG to Lallemand Inc. Evolva Holding announced on 21 November 2023 that it signed a share purchase agreement with Danstar Ferment AG, a Swiss affiliate of Lallemand Inc., a global leader in the development, production, and marketing of yeast, bacteria and specialty ingredients. Danstar Ferment AG will acquire 100% of the shares in Evolva AG from Evolva Holding SA subject to the fulfillment of certain customary conditions in the SPA, including inter alia the approval of the transaction by the shareholders.Evolva communicated that “no interested party was prepared to acquire Evolva by way of a public tender offer. The alternative would have resulted in the unorderly dissolution of Evolva’s operations, potentially in bankruptcy proceedings, with likely no liquidation dividend available to shareholders at all after satisfying all creditor claims. 

Evolva Holding SA and Danstar Ferment AG have entered into an earn-out agreement providing for an additional future contingent purchase price payments of up to CHF 10 million, depending on the achievement of certain product-based sales targets.

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