MUNICH—Wacker Chemie A.G. has purchased ADL Biopharma of Leon, Spain, from Kartesia, a financial investor.
The transaction, which "exceeded $108 million," was finalized May 8, according to Wacker.
The acquisition within Wacker Biosolutions "significantly strengthens" the life sciences division, adding about 300 employees and 2,000 cubic meters in fermentation capacity for Wacker.
"The acquisition of ADL BioPharma is an important step for the further growth of our biotechnology business, with which we want to achieve sales of 1 billion euros in 2030," CEO Christian Hartel said. "ADL BioPharma has developed very well in recent years and has seen strong sales growth."
With additional fermentation capacities, Wacker will look to further establish itself in sustainably produced food ingredients and the consumer product space, as well as within pharmaceutical proteins.
Wacker will leverage its technical expertise in collaboration with ADL Biopharma's contract manufacturing, Wacker said. ADL Biopharma also brings additional capacities for recovery and purification processes, as well as extensive process development experience in fermentive cystine, an important amino acid used in the biopharma and sustainably sourced food markets.