May 18/Heerlen, Netherlands/Marketwire --Royal DSM entered into a definitive agreement with Clearwater Fine Foods and funds managed by Richardson Capital to acquire Ocean Nutrition Canada for a total enterprise value of C$540 million. Subject to customary conditions, the transaction is expected to close in the second half of 2012.
Ocean Nutrition Canada is a Canada-based supplier of fish-oil derived Omega-3 fatty acids (EPA and DHA) to the dietary supplement and food and beverage markets. The company is headquartered in Halifax (Nova Scotia, Canada) with approximately 415 employees. Ocean Nutrition Canada, founded in 1997, has production sites in Canada, the U.S. and Peru. Net Sales for 2012 are expected at approximately C$190 million with an EBITDA of C$55-60 million. The average annual growth of the company over the past five years in local currency amounted to nearly 20%.