Kerry Group launch take over on Biosearch Life
A Spanish probiotics company controlled by Lactalis Iberia
The Spanish company Biosearch Life, a manufacturer of probiotics based on human breast milk, will soon be acquired by the Kerry Group
Kerry Group has announced plans to acquire Biosearch Life, a Spanish company listed on the Madrid Stock Exchange, that sells probiotic products based on human breast milk, for a total of 126.94 million euros. The purchase offer was initiated by Kerry Iberia Taste & Nutrition for 100% of the share capital of Biosearch Life and follows the acquisition by the group of the Canadian probiotic company, Bio-K Plus International.
Biosearch Life, based in Granada, operates in the pharmaceutical, nutraceutical and functional food sectors and has more than 150 employees. The Spanish biotech company offers a range of products in three main areas: omega-3 fatty acids, botanical extracts and probiotics (many of which are derived from human breast milk) through their respective brands, Eupoly-3 , Exxentia and Hereditum.
Biosearch Life ingredients are distributed in Europe, Asia and the United States and are used in the production of dairy products, baby food, beverages and baked goods.
Grupo Lactalis Iberia -one of the main shareholder of Biosearch Life- intends to accept the offer by offering its 29.5% stake in the company. Under the terms of the agreement, the takeover bid is 57.7 million shares worth € 2.20 per share, reaching a total consideration of € 126.94 million.
The agreement is aimed at all Biosearch shareholders and is subject to the approval of the Spanish National Commission for Securities Markets.
EFA News - European Food Agency