HALIFAX – A Dutch company specializing in sustainable dietary supplements has bought Ocean Nutrition Canada, a Nova Scotia-based manufacturer of fish oil.
Royal DSM said Friday that it acquired the Halifax company for $540 million and plans to expand its lipids growth platform.
Ocean Nutrition has become a global leader in the provision of Omega-3 fish oil ingredients to manufacturers of dietary supplements.
Martin Jamieson, president and chief executive of Ocean Nutrition, said the acquisition should lead to further growth for a company that started in 1997 and now has about 415 employees at production sites in Canada, the Unites States and Peru.
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He said the company hasn’t been able to grow at the rate it wants because of limited resources and infrastructure, but added that the sale to DSM will take its products around the globe.
“This combination with DSM will provide exactly that opportunity,” he said.
“We’re a fast-growth company and the power of their infrastructure with our leadership position in Omega-3, that combination is very significant.”
Ocean Nutrition is projecting sales this year of $190 million.
Stephan Tanda of the DSM managing board said the deal will extend its portfolio and expand its business in polyunsaturated acids.
“The acquisition of Ocean Nutrition Canada is for DSM a logical next step to strengthen and complement our existing nutritional lipids activities,” he said in an email.
“Our global infrastructure and access to the food and beverage markets will help Ocean Nutrition to further grow.”
Jamieson said Ocean Nutrition will become part of DSM’s nutritional products division based in Switzerland, which has a wide range of products in the pharmaceutical, dietary supplements and food ingredients industries.
DSM says it is the world’s largest producer of micronutrients, such as vitamins.
“Omega-3 is the next stage of development for them,” he said.
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