Novozymes acquires Iogen’s enzyme business
January 31, 2013, Ottawa, ON – Novozymes has acquired Iogen Bio-Products, the industrial enzyme business of Ottawa-based Iogen Corporation for $67.5 million (CDN).
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,” said Andrew Fordyce, VP 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.”
Closing of the acquisition is anticipated late February 2013, awaiting finalization of corporate formalities.