FDBusiness.com

FMC completes acquisition of Omega-3 concentrates producer Epax

 Breaking News
  • 2 Sisters Food Group Sells Christmas Puddings Business to Valeo Foods 2 Sisters Food Group is selling its Matthew Walker Christmas puddings business to Valeo Foods Group, the fast-growing international ambient foods producer, for £67 million. The Matthew Walker business, based...
  • Carlsberg Gives Latest Green Fibre Bottle Update Carlsberg Group has given an update on its journey to create the world’s first ‘paper’ beer bottle made from sustainably-sourced wood fibres that is both 100% bio-based and fully recyclable....
  • Loma Launches New RUN-WET IQ4 Metal Detector Loma Systems, a leading manufacturer of high performance metal detectors, checkweighers and x-ray inspection systems for the global food and pharmaceutical industries, has introduced new RUN-WET® specification to its range...
  • Campari Group Expands Brands Portfolio Campari Group, the Italian and international drinks business, has acquired a controlling interest in Mexican super premium brands Ancho Reyes spicy liqueur and Montelobos mezcal. In 2018 the net sales...
  • Winners of the 2019 Global Bottled Water Awards The winners of the 2019 Global Bottled Water Awards were announced at an awards ceremony held at the iconic Burj Al Arab, during the 16th Global Bottled Water Congress in...

FMC completes acquisition of Omega-3 concentrates producer Epax

July 25
14:04 2013

US-based chemical company FMC has completed the acquisition of Omega-3 fatty acid concentrates manufacturer Epax Nutra and Epax UK (Epax) for approximately $345m.

The acquisition is part of FMC’s strategy to strengthen its presence in the high-growth nutraceutical market and expand its health and nutrition business portfolio.

Epax, which was part of Omega-3 pharmaceutical company Trygg Pharma, is a manufacturer of Omega-3 EPA/DHA fatty acids that are primarily used in the nutraceutical, food and active pharmaceutical ingredient (API) intermediate markets.

The company employs purification and concentration production techniques that meet the requirements of the fast-growing market segments for high-concentration Omega-3 fatty acids.

“FMC’s financial strength, global market access and commitment to growth will help accelerate our ability to serve the quality and reliability demands of our customers and consumers.”

The acquisition includes Epax’s two production facilities in Alesund, Norway, and Seal Sands, UK.

It adds a premium Omega-3 fatty acid technology and brand to FMC’s portfolio of micro-crystalline cellulose, alginates, carrageenan, pectin and other functional ingredients.

As part of the deal, FMC has entered into a long-term supply agreement with Trygg Pharma to provide its high-concentration Omega-3 fish oil for use as an active pharmaceutical ingredient.

FMC stated that the deal reflects a 2013 EBITDA multiple in line with the company’s current trading multiple and is expected to be immediately accretive to its earnings per share (EPS).

FMC chairman, president and CEO Pierre Brondeau said that earlier in the year, the company committed to investing in its health and nutrition platform by expanding its participation in nutraceuticals and similar high-growth markets.

“Today’s announcement underscores our commitment to this strategy and builds on our strengths in functional ingredients for the food and pharmaceutical markets,” Brondeau added.

“It also illustrates our resolve to meet or exceed FMC’s Vision 2015 growth goals through targeted acquisitions that complement our technology, business and financial priorities.”

Epax CEO Ola Snove said: “FMC’s financial strength, global market access and commitment to growth will help accelerate our ability to serve the quality and reliability demands of our customers and consumers.”

FMC noted that it will work with the Epax team to cater to the market with an even broader portfolio of products, especially in the nutraceutical market.

FMC is a diversified chemical company providing services to agricultural, industrial, environmental and consumer markets across the world.


Warning: count(): Parameter must be an array or an object that implements Countable in /home/fdbusiness/public_html/wp-content/themes/legatus-theme/includes/single/post-tags.php on line 5
Share

About Author

colin

colin

Related Articles

Food & Drink Business Conference & Exhibition 2016

Upcoming Events

[eventlist]

find food jobs

The Magazine

F&D Business Preferred Suppliers

New Subscriber

Subscribe Here



Advertisements