Lallemand purchases a Swiss biotech company
“Our yeast-based technology platform and Evolva offer us a strong strategic fit,” stated Lars Asferg, president of Lallemand Bio-Ingredients. “We can grow our product line by focusing on health compounds like Veri-te resveratrol and flavor and fragrance aroma components like natural Nootkatone and Valencene, thanks to Evolva’s unique precision fermentation technology and R&D skills. We are excited to welcome the Evolva staff members into the Lallemand family and to keep collaborating with suppliers and both new and current clients to deliver sustainable, yeast-based ingredients to markets throughout the world through Lallemand’s vast commercial and operational network.
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According to the conditions of the share purchase agreement, the acquisition price of 20 million Swiss francs ($23.5 million) may be changed. Furthermore, according to the firms, the deal is contingent upon Evolva receiving an earn-out of up to 10 million Swiss francs upon the fulfillment of specific product-based sales targets.
Evolva Holding SA announced that it will apply to have its shares delisted from SIX Swiss Exchange. The delisting is anticipated to occur following a normal period of six to twelve months.
The chairman of Evolva Holding SA, Stephan Schindler, said, “We thank the Evolva shareholders for their support to enable the transaction with Lallemand, securing the future of Evolva AG’s operations for its customers, partners, and employees.” “At this point, our primary concern is the systematic management of the company’s liquidation, taking into account any possible earn-out payments and the distribution of a corresponding liquidation dividend.”