Lallemand acquires Swiss biotech business

MONTREAL — Lallemand Inc. said its subsidiary Danstar Ferment AG has finalized its acquisition of Evolva AG from Evolva Holding AG. The transaction was first announced on Nov. 21, 2023, and was approved by Evolva Holding shareholders on Dec. 21, 2023.

Headquartered in Reinach, Basel, Evolva focuses on the research, development and commercialization of natural ingredients derived from yeast for applications across the flavors and fragrances, health ingredients, cosmetics and health protection categories.

“Evolva offers us a strong strategic fit with our yeast-based technology platform,” said Lars Asferg, president of Lallemand Bio-Ingredients. “Evolva’s proprietary precision fermentation technology and R&D capabilities present an ideal platform from which to expand our product offering mainly within health ingredients like Veri-te resveratrol and flavor and fragrance aroma components like Valencene and natural Nootkatone. We look forward to welcoming the Evolva employees into our Lallemand family and continuing to work with suppliers, existing and new customers in bringing sustainable, yeast-based ingredients based to markets globally via Lallemand extensive commercial and operational network.”

The purchase price of 20 million Swiss francs ($23.5 million) may be adjusted up or down in accordance with the terms of the share purchase agreement. In addition, the companies said the transaction is subject to an earn-out payable to Evolva of up to 10 million Swiss francs based on the achievement of certain product-based sales targets.

Evolva Holding SA said it will seek the delisting of its shares from SIX Swiss Exchange, with an expected delisting taking place after a customary period of between 6 to 12 months.

“We thank the Evolva shareholders for their support to enable the transaction with Lallemand, securing the future of Evolva AG’s operations for its employees, customers and partners,” said Stephan Schindler, chairman of Evolva Holding SA. “Our focus is now on the orderly handling of the liquidation of the company, considering potential earn-out payments and the distribution of a respective liquidation dividend.”