Chr. Hansen Buys Dairy Ingredient Supplier Hundsbichler

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Chr. Hansen has acquired Austria-based dairy ingredient supplier Österreichische Laberzeugung Hundsbichler to expand its presence in the specialty cheeses segment.

Headquartered in Langkampfen, Hundsbichler produces the BioRen brand.

Chr.Hansen believes the deal will allow it to boost its enzyme production as well as offer a “second-to-none” product portfolio in the animal rennet space.

In a statement, Chr. Hansen said the acquisition confirms its commitment to the traditional segment of animal-derived coagulants for its customers in the cheese industry.

The acquired assets will form parts of Chr. Hansen’s food cultures and enzymes business.

Michael Fooken Jensen, senior commercial development manager at Chr. Hansen, said: “We’re very proud to take on Hundsbichler’s high-quality products and will do our utmost to deliver the same exceptional service levels that the customers have been used to.

“Chr. Hansen was founded on the discovery of animal rennet in 1874 and therefore has a strong tradition and expertise in this field, and we therefore believe that we can create true value for our new customers.”

Chr. Hansen added that it sees a “strong fit” between its dairy unit and Hundsbichler, which is expected to provide attractive opportunities for synergies within sales, including cross-selling, supply chain improvements and innovation.

The acquisition will not impact the financial guidance of Chr. Hansen and will only have a “minor impact” on sales and earnings in 2018/19.

The deal comes as Chr. Hansen reports a 3% rise in revenue in its full-year results to €1.2 billion. Profit for the year was up 2% to €228 million.

CEO Mauricio Graber said: “2017/18 was another good year for Chr. Hansen, and we finished strongly in Q4 driven by food cultures and enzymes, and health and nutrition. We achieved all the overall financial targets that we set at the beginning of the year, in spite of currency headwinds impacting both revenues and earnings, with organic growth reaching 9%, EBIT margin before special items increasing to 29.2%, and free cash flow before special items and acquisitions increasing by 4% to €196 million.

“For the full year, food cultures and enzymes delivered strong growth organic of 12%, performing well above the long-term ambition of growing 7-8% per year, while health and nutrition, and natural colors delivered moderate growth and grew by 8% and 5%, respectively.”

This year Chr. Hansen has expanded its range of starter cultures for cheese with the launch of DVS White Flora and an extension of its DVS SSC line.

Source:FoodBev

Author: Jules Scully

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