In Canada, yeast-based ingredients maker Lallemand has acquired Evolva, a biotech firm based in Switzerland.
The acquisition by Lallemand subsidiary Danstar Ferment AG is valued at around $24 million, with the potential for an additional $11.75 million if certain targets are met, according to vegconomist. Evolva develops yeast-derived ingredients for use in flavors and fragrances, health ingredients, cosmetics, and health protection.
“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 & 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 and existing and new customers in bringing sustainable, yeast-based ingredients to markets globally via Lallemand’s extensive commercial and operational network.”