Omega-3 maker acquired by Atrium Innovations
The Belgian company's product portfolio consists of 16 omega-3 supplements, derived from non-endangered species of fish or algae, with revenues derived earned mainly from Belgium, Holland, Ireland and the UK.
Pierre Fitzgibbon, Atrium's president and CEO said: "We seek worldwide for acquisitions with brands and products that can reinforce our commitment to innovation and superior quality products, and Minami's Omega-3 clearly stands apart in this market category.
Specialty supplements
"We focus upon and derive a large percentage of our revenues from specialty supplements, a high growth market segment of which Omega-3 is part. This new high-end brand is complementary to the wide range of Omega-3 products among our group.” The company aims to leverage Atrium's multi-channel distribution and geographic capabilities to increase the penetration level of the Minami brand to achieve its full potential, he added.
Minami's omega-3 products are said to be of a high level of concentration and purity produced by processes with a small ecological footprint. “Some competing brands may require a larger number of soft gel capsules to deliver the full benefit of Omega-3 on a daily basis,” according to company statement.
But with up to 90-95% of pure Omega-3 per softgel, Minami's products are said to require considerably fewer capsules. Minami's Omega-3 supplements are claimed to surpass industry standards for PCBs, dioxins and heavy metals.
No chemical products are used in the manufacturing process
Minami's fish oil has Eco-Management and Audit Scheme (EMAS) certification which is approved by the European Parliament.
Product registration
The Minami brand will be launched in the United States this spring by Garden of Life.
This will be followed by Trophic when product registration is completed in Canada.
Minami has a strategic long-term Omega-3 sourcing supply agreement with KD-Pharma Bexbach GmbH for the European and North American markets.
Atrium acquired Minami for a cash payment of €5.5m (US$7.38 million) before a revenue earn-out payment of up to € 2m payable at the end of 2011 if the revenue growth reaches 20%.
Meanwhile, Atrium’s latest purchase follows its acquisition of Canadian supplement company Trophic Canada for $11m in March 2010 and West Palm Beach, Florida-based Garden of Life for $35m in September 2009.
