Mumbai: Advanced Enzyme Technologies announced on Thursday that the company’s wholly-owned subsidiary, Advanced Enzymes Europe B.V has entered into a definite agreement to acquire Evoxx Technologies GmbH.
The company is acquired for a total consideration of Euro 7.65 million and this acquisition is expected to be completed by mid of August 2017
The target entity belongs to development and production of enzymes and certain nutritional carbohydrates. Evoxx reported a total turnover of approx Euro 3 million.
On completion of this acquisition, Evoxx will become direct subsidiary of Advanced Enzymes Europe B.V and indirect subsidiary of Advance Enzyme Technologies.