Baker McKenzie advised Chr. Hansen Holding A/S (Chr. Hansen), in relation to acquisition of Jennewein Biotechnologie GmbH (Jennewein), a leading player in the Human Milk Oligosaccharides (HMO) market. The total consideration equals EUR 310 million on a debt-free basis. The transaction is expected to be completed in September 2020.
Chr. Hansen plans to invest more than EUR 200 million in production assets until 2025, including an investment in a brown-field factory, to expand HMO capacity to supply the expected demand, a meaningful part of which has already been secured through long-term contracts
Baker McKenzie previously assisted Chr. Hansen in cross-border transactions, most recently on its acquisition of Austrian pharmaceutical company HSO Health Care as well as UAS Laboratories LLC, a B2B company specializing in clinically documented probiotics.
"Once more, we were able to support Chr. Hansen with a well-rehearsed team in the acquisition of a fast-growing company," comments Christian Atzler, M&A Partner at Baker McKenzie.
Jennewein is a leading international industrial biotechnology company with a range of products in the field of human milk oligosaccharides (HMOs) and rare monosaccharides such as L-Fucose and Sialic acid. The company manufactures an extensive portfolio of innovative HMO products, such as 2′ fucosyllactose, 3′-fucosyllactose, Lacto-N-neotetraose, and lacto-Ntetraose. These rare sugars are used in the food industry (particularly infant milk formulas), the pharmaceutical industry, and the cosmetic industry.
Chr. Hansen is a leading, global bioscience company that develops natural ingredient solutions for the food, nutritional, pharmaceutical and agricultural industries. They develop and produce cultures, enzymes, probiotics and natural colors for a rich variety of foods, confectionery, beverages, dietary supplements and even animal feed and plant protection. Their solutions enable food manufacturers to produce more with less – while also reducing the use of chemicals and other synthetic additives – which make their products highly relevant in today’s world. In 2019, Chr. Hansen was ranked as the world’s most sustainable company by Corporate Knights.
The global Corporate/M&A team of Baker McKenzie advises on more cross-border transactions than any other law firm. Most recently the team advised GEA on the sale of the compressor manufacturer Bock to NORD Holding, DBAG on an investment in congatec Holding AG, benpac hold-ing ag on the acquisition of Gallus Group, SAP on the sale of the communication unit SAP Digital Interconnect to Sinch AB, Paragon Partners on the acquisition of Castolin Eutectic, Air Liquide on the sale of the Schülke Group to the Swedish financial investor EQT, METRO AG on the establishment of a strategic partnership with Wumei Technology Group, Bayer AG on the sale of its majority stake in the chemical park operator Currenta, SPIE on the acquisition of OSMO, Toppan Printing Co. Ltd. on the acquisition of the German Interprint Group and Evonik on the sale of its methacrylate business to Advent International.
Legal advisor to Chr. Hansen:
Lead: Corporate/M&A: Christian Atzler (partner, Frankfurt)
Corporate/M&A: Dr. Peter Wand (partner, Frankfurt), Dr. Markus Mörtel (senior associate, Frankfurt), Jessica Köhler (associate, Frankfurt), Rouven Reuter (associate, Frankfurt), Esther Xiang (associate, Frankfurt)
Commercial: Dr. Johannes Teichmann (partner, Frankfurt), Dr. Ingmar Oltmanns (associate, Frankfurt), Rebecca Romig, Isabel Weaver (both associates, Frankfurt)
IP: Dr. Rembert Niebel (partner, Frankfurt), Alexander Ritter (senior associate, Munich), Lena Weber (associate, Frankfurt)
IT: Dr. Holger Lutz (partner, Frankfurt), Dr. Tobias Born (senior associate, Frankfurt)
Regulatory: Dr. Frank Pflüger (partner, Frankfurt), Dr. Christian Lebrecht (associate, Frankfurt)
Employment: Dr. Christian Reichel (partner, Frankfurt), Dr. Felix Diehl (associate, Frankfurt)
Real Estate: Dr. Florian Thamm (partner, Frankfurt), Till Pflug (associate, Frankfurt)
Banking & Finance: Dr. Oliver Socher (partner, Frankfurt), Silke Fritz (counsel, Frankfurt), Philipp Thimm (associate, Frankfurt)
Foreign Trade Law: Anahita Thoms (partner, Dusseldorf), Alexander Ehrle (associate, Berlin)
Anti-trust: Gavin Bushell (partner, Brussels), Christian Horstkotte (partner, Dusseldorf)
Inhouse Legal Chr. Hansen: Christel May-Worre (Hørsholm, Danmark)