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02/2025

FEED ENZYME ALLIANCE acquired by NOVONESIS

DENMARK Life Sciences / Animal Health EV 1b - 4b EUR

Context

This transaction is a strategic corporate carve-out and vertical integration wherein Novonesis fully acquires the sales and distribution activities of the Feed Enzyme Alliance from its long-term joint venture partner, dsm-firmenich. Supported by a fully committed debt financing package, this operation effectively dissolves the historical alliance, granting Novonesis absolute control over the entire commercial value chain. The primary strategic rationale underpinning this acquisition is to directly combine the acquirer's established innovation and production capabilities with the target's extensive global go-to-market network. This powerful consolidation will significantly accelerate Novonesis's market penetration, unlock substantial revenue synergies, and solidify its undisputed leadership position within the global animal nutrition and biosolutions industry.

FEED ENZYME ALLIANCE, which reported an EBITDA margin of in 2025, is valued in this transaction at an EV/EBITDA multiple of , representing a to the average currently observed in the Healthcare & Pharma sector (14.5x).

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Target

The Feed Enzyme Alliance was a 25-year joint venture focused on the development, production, and distribution of enzymes for animal nutrition. By delivering highly innovative, sustainable nutritional solutions and market-leading feed enzymes, the enterprise serves a broad, diverse customer base across the global animal nutrition and health sectors. Its robust commercial operations provide deep insights into core markets, fostering continuous technological innovation and sustainable value creation within the agricultural supply chain.

Ent. Value

Equity Value

Multiples

EV / Revenue

EV / EBITDA

EV / EBIT

Historical Financials (EUR)

Year
Rev
EBITDA
EBIT
2025
2024

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REFERENCES

Valuation range: EV 1b - 4b EUR

EBITDA range: 50M - 100M EUR

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of FEED ENZYME ALLIANCE by NOVONESIS are reserved for mynth community members. Register for free to unlock full data.

Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.

Press release: view release

Acquirer: novonesis