Houlihan Lokey Advises Evolva Holding S.A.

Houlihan Lokey is pleased to announce that Evolva Holding S.A. (SWX:EVE; Evolva), a pioneer in the field of natural molecules and industrial biotech, has sold 100% of its shares in Evolva AG, the fully owned operating subsidiary of Evolva Holding SA containing all of Evolva’s business operations, to an affiliate of Lallemand Inc.

Headquartered in Reinach, Switzerland, Evolva is a Swiss biotech company focused on the research, development, and commercialization of ingredients based on precision fermentation. Evolva has leading businesses in flavors and fragrances, health ingredients, and health protection. Evolva is dedicated to making the best products that can contribute to health, wellness, and sustainability.

Lallemand Inc. is a family-owned business headquartered in Canada whose focus is on the development, production, and marketing of yeasts, bacteria, fungi, and enzyme solutions across the baking, food ingredients, human and animal nutrition, health, crop protection/nutrition, enology, brewing, alcohol, and biofuel sectors. Lallemand Inc. is present in more than 50 countries, operates over 45 production plants, has circa 5,000 employees, and has annual sales in excess of US$1.5 billion.

The transaction encompasses all operations of Evolva, and the remaining holding entity will be delisted, liquidated, and transaction proceeds will be distributed to shareholders.

The transaction was signed on November 21, 2023, and closed on December 28, 2023, following approval by shareholders and completion of customary closing conditions.

Houlihan Lokey served as the exclusive financial advisor to Evolva and its board of directors. The deal highlights the firm's deep specialty ingredients and biotech expertise, public transaction know-how, continued deal momentum throughout 2023, and ability to successfully execute complex transactions within a challenging global macro environment.