Austerity measures announced in yesterday’s tight, first half results have not stopped DSM’s acquisition drive, as it announced intentions to pay €465m for Brazilian specialist in food supplements for cattle, Tortuga.
The Sao Paolo acquisition is expected to earn in €385m in 2012, with EBITDA of about €60m. The global cattle supplements market is estimated at about €4bn and growing at 3% per year.
“The acquisition will strengthen DSM's ability to provide integrated nutritional solutions, capturing increased value from know-how and animal nutrition advisory services,” the company said.
It’s the seven company DSM has bought since its September 2010 reinvention as a global firm focused on life sciences. Other acquisitions include omega-3 firms Martek BioSciences and Ocean Nutrition Canada.
"With the acquisition of Tortuga we have announced €2.2 billion worth of growth enhancing acquisitions, of which €1.8 billion is in our Nutrition cluster, since we embarked on our current strategic plan less than two years ago,” saidFeike Sijbesma, CEO and chairman of the DSM managing board.