DSM Acquires Tortuga

August 8, 2012

1 Min Read
DSM Acquires Tortuga

HEERLEN, NetherlandsDSM will acquire Tortuga Companhia Zootécnica Agrária (Tortuga) in an all-cash transaction for a total enterprise value of about $575 million. Depending on the actual 2012 EBITDA result, an adjustment in the purchase price up to a maximum enterprise value of about $600 million can be made. Subject to customary conditions, the transaction is expected to close in first quarter of 2013.

Tortuga, a privately held Brazilian company, specializes in nutritional supplements with a focus on pasture raised beef and dairy cattle. The company is headquartered in Sao Paulo with approximately 1,200 employees. Tortuga has three production sites in Brazil. DSM has identified attractive revenue and other synergies. DSM expects the transaction to be immediately EPS accretive. Customary operational efficiencies will also be realized in the integration process.

The acquisition of Tortuga is the seventh acquisition in the Nutrition cluster since DSM announced its corporate strategy "DSM in motion": driving focused growth in September 2010. Last year, DSM acquired carotenoid producer, Vitatene S.A.U., to strengthen its carotenoid business. These acquisitions form an integral part of DSMs strategy for its Nutrition cluster and will contribute to the current and future growth of DSMs attractive portfolio in health, nutrition and materials.

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