April 8, 2013
Royal DSM concludes acquisition of Tortuga
Life Sciences and Materials Sciences company, Royal DSM, has concluded its acquisition of Tortuga Companhia Zootécnica Agrária (Tortuga), a Brazilian nutritional supplements firm, for a total enterprise value of about US$572.2 million.
The acquisition will strengthen DSM's position in nutritional supplements and additives for ruminants as well as the company's presence in Brazil, one of the leading ruminant markets in the world.
Tortuga will also broaden DSM's animal nutrition ingredients portfolio with highly attractive organic trace minerals, while offering many value creating synergies.
"Completing the acquisition of Tortuga is a major step in the implementation of DSM's Nutrition strategy. Our attention is now fully focused on ensuring a smooth integration of the Tortuga business in a timely and efficient manner, with business continuity and customer satisfaction as key priorities for us while we welcome Tortuga's employees to DSM," commented Stephan Tanda, member of the DSM Managing Board who's responsible for the Nutrition cluster.
A dedicated integration team, consisting of both DSM and Tortuga representatives, will immediately work to execute a full-scale integration while focusing on future synergy generation.
Tortuga is a market leader in organic trace minerals for animal nutrition and health with a focus on pasture raised beef and dairy cattle. The company is headquartered in Sao Paulo, Brazil with approximately 1,200 employees.
