Chr Hansen buys HSO Health Care in Austria
Chr Hansen Holding and HSO Health Care have entered into an agreement, under which Chr Hansen will acquire HSO Health Care. The acquisition of the Austria-based B2B company specialising in probiotics for women’s health will strengthen and expand Chr Hansen’s global microbial platform. This acquisition is aligned with the strategy of pursuing bolt-on acquisitions that fit into the microbial platform, Chr Hansen says. The transaction will be finalised later this week.
Mauricio Graber, CEO of Chr Hansen, said, “I am excited that we have reached an agreement with HSO Health Care, which has demonstrated very fast growth through a globally recognised portfolio that complements our own products. Women’s health is a high-growth segment where innovation is becoming increasingly important, and with the addition of the Astarte portfolio we will be able to deliver innovation to a much larger market more quickly.”
Helmut Essl, CEO of HSO Health Care said, “HSO Health Care has been working from a mindset of scientifically documented, natural products since our inception, and we are delighted that with the addition of the Astarte products to Chr Hansen, we can make an even greater impact on a global scale. I am very excited that Chr Hansen will now bring Astarte to the next level.”
The acquisition is fully aligned with Chr. Hansen’s capital allocation principles, and does not impact the ability pay out an ordinary dividend of 40-60% of net profit. The purchase price will be financed from existing available cash and bank facilities, and the acquisition has no impact on the 2019/20 outlook. Under the terms of the agreement the details of the transaction will not be disclosed.