Royal DSM N.V. (RDSMY.PK) has reached 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. The transaction may close in the second half of 2012.
The company said the acquisition would allow DSM to strengthen and complement its newly established, global Nutritional Lipids growth platform. It would strengthen DSM's position in the North American dietary supplement market by adding fish oil derived omega-3 fatty acids to its portfolio and it would allow DSM to further leverage its global infrastructure to expand Ocean Nutrition Canada's sales in dietary supplement markets outside North America and in the food and beverage markets worldwide.
DSM expects the transaction to be earnings per share accretive as from 2013. The purchase is expected to accelerate revenue growth through material revenue synergies with expanded distribution, marketing and product development. Customary operational efficiencies would also be realized in the integration process.
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