News In Brief
DowDuPont completes acquisition of FMC’s Health & Nutrition business
The two companies signed a definitive agreement back in March of this year, and have finally satisfied all necessary conditions and approvals. This transaction included consideration to DuPont of $1.6 billion to reflect the difference in the value of the assets, including cash of $1.2 billion and working capital of $425 million.
The acquisition will expand DuPont’s capabilities into the pharma excipients space. "FMC’s complementary portfolio and expertise enhances our growth potential with a broader offering of products and solutions, an expanded footprint and a strong R&D pipeline," Matthias Heinzel, DuPont Nutrition & Health Business President told NutraIngredients-USA.
"Specifically, we are gaining broader and new access to key ingredients including alginates, carrageenan and microcrystalline cellulose," he added.
FMC's omega-3 business Epax, on the other hand, was acquired by Pelagia AS after the two companies signed a definitive agreement in June. The sale is slated for completion at the end of Q3 2017.
To comply with the European Commission ruling related to DuPont’s merger with Dow Chemical Company, its Crop Protection business was divested to FMC Corporation.
