28 February 2011 08:45 [Source: ICIS news]
SINGAPORE (ICIS)--DSM has completed the acquisition of US-based nutritional supplements firm Martek Biosciences in a deal worth around €790m ($1.08bn), the Dutch life and material sciences firm said on Monday.
Martek Biosciences, now a wholly-owned subsidiary of DSM, would add a new growth platform for healthy and natural food ingredients for infant formula and other food and beverage applications, the company said in a statement.
“The acquisition of Martek is expected to be immediately earnings per share accretive for DSM by €0.15 to €0.20 on a full-year basis,” it said.
Material synergies would be realised through expanded distribution, marketing and product development as well as other operational efficiencies, the statement added.
Martek Biosciences posted annual net sales of $450m (€328.5m) for its last fiscal year, which ended on 31 October 2010, according to DSM.
($1 = €0.73)
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