Novozymes acquires TJ Technologies

By CnAgri Print Novozymes, the world leader in bioinnovation, has signed a definitive agreement to acquire TJ Technologies Inc. based in Watertown, South Dakota. With annual revenue close to $15 million, TJ Technologies Inc. provides North American farmers with biological solutions that enhance plant growth, increase stress tolerance, and improve yields. The acquisition marks yet another important step in building Novozymes’ business within sustainable bioagriculture solutions.

“TJ Technologies Inc. is a frontrunner in bioyield enhancers, and this acquisition will further underpin Novozymes’ position with complementary and capable products, while strengthening commercial access,” says Thomas Videbæk, Executive Vice President of Novozymes and head of Business Development. “Combining our existing products and leading global name with TJ Technologies’ strong and proven portfolio, brands and regional market coverage, will strengthen Novozymes’ commercial position in important crop markets.”

The financial terms of the agreement are not disclosed. The acquisition does not impact Novozymes’ financial guidance for 2013, as the acquisition does not have a material impact on 2013 group sales and earnings, and only a minor negative impact on return on invested capital for 2013. Closing of the acquisition is expected within the next week.