Tortuga, a privately held Brazilian company, specializes in nutritional supplements with a focus on pasture raised beef and dairy cattle. The company is headquartered in Sao Paulo with approximately 1,200 employees. Tortuga has three production sites in Brazil. DSM has identified attractive revenue and other synergies. DSM expects the transaction to be immediately EPS accretive. Customary operational efficiencies will also be realized in the integration process.
DSM on Course for Tortuga
August 9/Heerlen, Netherlands/Press Release -- DSM will acquire Tortuga Companhia Zootécnica Agrária (Tortuga) in an all-cash transaction for a total enterprise value of about $575 million. Depending on the actual 2012 EBITDA result, an adjustment in the purchase price up to a maximum enterprise value of about $600 million can be made. Subject to customary conditions, the transaction is expected to close in first quarter of 2013.