Dutch DSM to acquire Ocean Nutrition Canada for $529m
18 May 2012 10:38 [Source: ICIS news]
SINGAPORE (ICIS)--DSM has agreed to acquire Ocean Nutrition ?xml:namespace>Canada, a supplier of omega-3 fatty acids, for Canadian dollar (C$) 540m ($529m, €435m), the Dutch specialty chemicals producer said in a statement on Friday.
The acquisition is expected to be finalized in the second half of 2012, the company said.
Ocean Nutrition is expected to generate net sales of C$190m, and earnings before interest, tax, depreciation and amortisation (EBITDA) of C$55-60m in 2012, DSM said.
The Canadian firm is based in Halifax, Nova Scotia, and has production sites in Canada, the US and Peru.
“The acquisition of Ocean Nutrition Canada extends DSM’s portfolio of omega-3 fatty acids reaching a wide range of different market segments and applications," DSM said.
($1 = C$1.02; $1 = €0.79)By: Joey Lau+6567804359
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