Kerry acquires c-LEcta
Very Successful Exit for High-Tech Gründerfonds
High-Tech Gründerfonds (HTGF) sells its shares in c-LEcta after accompanying the company for 16 years. Kerry Group plc, a taste and nutrition company announces it has reached agreement to acquire c. 92% of the issued share capital of c-LEcta GmbH for a consideration of €137m (Consideration subject to closing adjustments), with management to retain the balance.
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c-LEcta is a biotechnology innovation company specialising in precision fermentation, optimised bio-processing and bio-transformation for the creation of high-value targeted enzymes and ingredients. Based in Leipzig, Germany and employing over 100 people, c-LEcta has established itself as a leading innovator in disruptive new sciences for the pharmaceutical market, with a strong pipeline of functional bio-actives across food, beverage and other consumer markets.
"The food and pharmaceutical industries are on the cusp of a new wave of innovation where new developments in biotechnology, synthetic biology and precision fermentation are radically transforming these sectors. c-LEcta is a leader in these new technologies, which includes fermentation-based products such as disruptive new enzymes, and the strategically compelling combination with Kerry will accelerate our innovation capabilities in enzyme engineering, fermentation and bio-process development. Our broad market reach across food and pharma markets, combined with our deep enzyme applications expertise and integrated ingredient technology design, will enable and accelerate the growth potential of c-LEcta’s strong portfolio and technology capabilities while also supporting us in the creation of tastier, more sustainable and healthier products", Dr Albert McQuaid, Chief Science and Technology Officer of Kerry.
"We are very happy to join Kerry group and their global presence in the food and pharmaceutical sectors gives us access to additional markets. At the same time, their knowledge of ingredient technologies is a perfect fit to enable us to continue to drive our growth potential in the future", Dr Marc Struhalla, founder and CEO of c-LEcta.
"I am very proud that HTGF was able to support c-LEcta’s remarkable development as a seed investor from the very beginning. This success can be attributed to the entire c-LEcta team. This exit shows once again that it pays for HTGF to adopt a patient approach in the field of life sciences investments and to invest in a very long-term perspective", Marco Winzer, Partner at High-Tech Gründerfonds.
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