AZT is a publicly listed company located in Tromsø, Norway. BBG is specialised in the development, production and sales of high purity beta-glucan products for human health supplements and aquaculture. BBG's high purity yeast beta-glucan technology and patented soluble beta-glucan (SBG) offer potential for several other applications and markets.

The acquisition includes a specialised pharma and food grade certified production plant located in Tromsø. Under the terms of the agreement, Lallemand will acquire all BBG assets and associated intellectual property including the M-Gard, SBG, M-Glucan and Woulgan brand product portfolios, and will assume manufacturing responsibilities for beta-glucans in the Nordøya manufacturing facility.

BBG's business is an excellent strategic fit for Lallemand, the company said.

Lallemand president and CEO Antoine Chagnon said: "Our acquisition of the Biotec BetaGlucans business will broaden our beta-glucans product portfolio as well as our access to leading technologies within yeast-based ingredients.

"We look forward to offering our customers in both human and animal nutrition sectors innovative products from Biotec BetaGlucans. We are delighted to have secured the pharma certified Tromsø plant, our first production facility in Norway."

AZT CEO Jethro Holter said: "We are delighted to divest BBG to Lallemand who is ideally suited to take over this business. AZT will subsequently become a pure enzyme company with all efforts focused towards expanding it enzymes portfolio through organic and inorganic growth initiatives."