Novozymes, a Danish company that employs more than 465 people at its North American headquarters in Franklinton, will acquire the crop science subsidiary of a German conglomerate, continuing to beef up its bioagriculture business.
Novozymes announced this morning it will pay $275 million for EMD/Merck Crop BioScience, which is owned by Merck KGaA of Germany. That company isn't affiliated with U.S. pharmaceutical giant Merck & Co.
The acquisition will give Novozymes a company that makes natural inoculants to improve the health of crops such as soybeans, peanuts, corn and wheat. EMD/Merck, which is based in Milwaukee and employs about 165 people, will be added to Novozymes' BioBusiness unit.
Novozymes is the world's largest producer of enzymes used to make a variety of products, including ethanol. The company entered the bioag business in 2007 when it bought a Canadian company.
The latest deal is expected to close by May.
“EMD/Merck Crop BioScience has a strong strategic fit with our existing BioAg business,” Novozymes CEO Steen Riisgaard said in a prepared statement. “Sustainable products and technologies will in the future play an even greater role in the agricultural industry as they allow effective and more sustainable ways to grow crops.”
Assistant Business Editor Alan M. Wolf joined the N&O in 1999 covering the business of health care. He became an editor in 2001, and helps oversee the paper's daily business coverage and Sunday Work&Money section. He lives in Clayton with his wife and two children. Reach him at 919-829-4572 or