Chr. Hansen acquires Jennewein for DKK 2.3bn
September 23, 2020
Publ. listed bioscience company Chr. Hansen has acquired German Jennewein. The acquired company has 100 FTEs and is specialized within Human milk oligosaccharides (HMO) - which are found in, for example, breast milk and infant formula. Chr. Hansen states that the market for HMO in 2025 is estimated to be worth more than DKK 2.9bn. In the longer term, the market is estimated to grow to up to DKK 7.5 bn. Moreover, it is announced that Chr. Hansen plans to invest more than DKK 1.5bn in production assets until 2025. The purchase price is disclosed to reach DKK 2.3bn on a debt-free basis, Jennewein is expected to generate revenues of DKK 372m in 2021, implying an EV / Sales of 6.2x based on 2021 financials.
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