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Business
Novozymes Buys Iogen Enzymes
by Marc S. Reisch
February 4, 2013
| A version of this story appeared in
Volume 91, Issue 5
Danish enzymes maker Novozymes has reached a deal to buy the industrial enzymes business of Canada’s Iogen for $68 million plus an additional $12.5 million if future earnings targets are met. The deal, which does not include Iogen’s biofuels business, should close at the end of the month. Novozymes says the deal is a good fit and complements its existing product portfolio. Iogen says it plans to concentrate its efforts on advanced biofuels. It penned a deal in October to build a cellulosic ethanol plant in Brazil with sugarcane ethanol maker Raízen Group.
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