26 March 2012 08:10 [Source: ICIS news]
SINGAPORE (ICIS)--DSM has acquired US-based Verenium’s food enzymes business and key technology for $37m (€27.8m), the Dutch chemicals maker said on Monday.
The acquisition includes Verenium’s oilseed processing business and intellectual property portfolio, licenses for certain food enzymes and access to the firm’s biodiversity libraries, DSM said in a statement.
The combined sales from these businesses are projected at about $15m this year, and is expected to “grow rapidly in the coming years”, the company said.
“This acquisition will broaden our enzymes business and fits very well in our strategy of continued value growth for our nutrition cluster,” said Stephan Tanda, a member of the DSM managing board.
($1 = €0.75)
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