Novozymes A/S to Acquire Canada Enzyme Firm for $67 Million

Published: Jan 31, 2013

International enzyme technology firm Novozymes is expanding its business by acquiring Canada-based Iogen Corporation in a deal worth some $67 million. The deal was announced early Friday. Earn-outs to Iogen could add another $12.5 million to the deal. Iogen offers a lineup of industrial enzymes known as Iogen Bio-Products. The deal does not include Iogen's bioenergy process technology. “Iogen Bio-Products is a good fit for Novozymes,” says Andrew Fordyce, vice president 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.”

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