DSM completes acquisition of Fortitech and strengthens its human nutrition business
Royal DSM, the global Life Sciences and Materials Sciences company, announced today that it has completed the acquisition of Fortitech, Inc. (Fortitech). The transaction, for a total enterprise value of USD 634 million (about EUR495 million) strengthens DSM's Human Nutrition and Health business, by expanding the company's value chain presence and adding additional capabilities. As a result of the acquisition, announced on 8 November 2012, approximately 520 employees are joining DSM.
Feike Sijbesma, CEO and Chairman of the DSM Managing Board, said: "The acquisition of Fortitech is the ninth acquisition in the Nutrition cluster since we announced our corporate strategy DSM in motion: driving focused growth in September 2010. These acquisitions will contribute to the current and future growth of our attractive portfolio in health, nutrition and materials, resulting in stronger and more stable growth and profitability for DSM overall."
Leendert Staal, President and CEO of DSM Nutritional Products, commented: "Completing the acquisition of Fortitech is another milestone in the implementation of DSM's Nutrition strategy. We are expanding our value chain presence and will be able to deliver more value to our customers. Fortitech will be an important part of the Human Nutrition and Health business within DSM Nutritional Products. Our attention is now fully focused on ensuring a smooth integration of the Fortitech business in a timely and efficient manner, with business continuity and customer satisfaction as key priorities for us while we welcome Fortitech's 520 employees to DSM."
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