BASF Acquires Enzyme Company
BASF acquires Verenium, a San Diego-based enzyme supplier.
BASF Acquires Enzyme Company 10-16-2013 BASF Corp. (Los Angeles) has acquired enzyme specialist Verenium (San Diego) to the tune of $62 million. The acquisition is expected to strengthen BASF’s position in the growing global enzyme market.
BASF purchased shares in Verenium at $4 each, an estimated 56% premium over the average share price recorded six months prior to the transaction. The transaction is expected to close once BASF can secure a majority of the remaining outstanding shares. In 2012, Verenium made $57 in revenue.
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