FEED ENZYME ALLIANCE acquired by NOVONESIS
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).
-> Deep-dive in Healthcare & Pharma market trends
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)
Similar deals in Life Sciences
| Date | Acquirer | Target | Country | Sector |
|---|---|---|---|---|
| 03/2025 | NUTRISENS | PRODIET | BRAZIL | Nutrition & Dietary Supplements |
| 03/2025 | LBO FRANCE | HEMODIA | FRANCE | Medical Devices |
| 02/2025 | EURAZEO / TURENNE CAPITAL / KURMA PARTNERS | GERMITEC | FRANCE | Medical Devices |
| 01/2025 | QUADRIVIO GROUP | MIR - MEDICAL INTERNATIONAL RESEARCH | ITALY | Diagnostic Equipment |
| 01/2025 | Animalcare Group | Randlab | AUSTRALIA | Animal Health |
| 12/2024 | GOLDMAN SACHS | Synthon International | NETHERLANDS | Generics / Labs |
| 12/2024 | NEXTSTAGE / IK PARTNERS | EUROBIO SCIENTIFIC | FRANCE | Diagnostic Equipment |
| 12/2024 | UI INVESTISSEMENT | DIDACTIC | FRANCE | Medical Consumables |
| 11/2024 | NAXICAP PARTNERS | GLOBAL D | FRANCE | Implants & Prosthetics |
| 10/2024 | CLAYTON, DUBILIER & RICE (CD&R) | OPELLA | FRANCE | Generics / Labs |
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