Dutch DSM to acquire US-based Fortitech for $634m

08 November 2012 07:43  [Source: ICIS news]

SINGAPORE (ICIS)--Dutch specialty chemicals firm DSM said on Thursday that it will acquire US-based nutrition firm Fortitech for $634m (€495m) in cash.

The acquisition is expected to be completed before the end of this year, DSM said in a statement.

Fortitech makes food ingredient blends for the food and beverage, infant nutrition as well as dietary supplement industries.

The US firm is expected to generate around $270m in net sales in 2013, with its earnings before interest, tax, depreciation and amortisation estimated at around $70m, DSM said.

($1 = €0.78)

By: Pearl Bantillo
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