DSM to acquire Ocean Nutrition Canada

DSM to acquire Ocean Nutrition Canada

Royal DSM, the global Life Sciences and Materials Sciences company, announced that it has entered into a definitive agreement with Clearwater Fine Foods and funds managed by Richardson Capital to acquire Ocean Nutrition Canada for a total enterprise value of CAD 540 million. Subject to customary conditions, the transaction is expected to close in H2 2012.

Ocean Nutrition Canada is a Canada-based supplier of fish-oil derived Omega-3 fatty acids (EPA and DHA) to the dietary supplement and food and beverage markets. The company is headquartered in Halifax (Nova Scotia, Canada) with approximately 415 employees. Ocean Nutrition Canada, founded in 1997, has production sites in Canada, the United States and Peru. Every day over 21 million servings of its MEG-3® product line are consumed in supplements and foods and beverages across the world. Net Sales for 2012 are expected at approximately CAD 190 million with an EBITDA of CAD 55-60 million. The average annual growth of the company over the past 5 years in local currency amounted to nearly 20%.

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