The transaction also involves potential earn-out payments of up to CAD12.5m ($13m).
In exchange, Novozymes will gain all commercial rights to Iogen Bio-Products’ existing product portfolio, pipeline, facilities and technical know-how.
The acquisition, however, does not include assets of the company’s bioenergy process technologies.
Novozymes global enzyme sales and customer solutions vice president Andrew Fordyce commented that the company products and those of Iogen were complementary to each other.
"We get a number of products that complement our existing product portfolio and welcome a talented group of employees who are very good at developing and producing industrial enzymes," added Fordyce.
With a portfolio of over 20 products across the globe, Iogen Bio-Products manufactures and sells enzymes for the pulp & paper, textile, grain-processing and animal feed industries.
The acquisition is expected to boost Novozymes revenues in 2013, contributing by 0.5 percentage point, depending on when the acquisition is closed, said the company in a statement.
