Heerlen, NL, 08 Apr 2013 08:15 CEST
Royal DSM, the global Life Sciences and Materials Sciences company, announces today that it has completed the acquisition of Tortuga Companhia Zootécnica Agrária (Tortuga), a nutritional supplements company with a focus on pasture raised beef and dairy cattle for a total enterprise value of about €440 million (BRL 1,160 million). The acquisition was announced on 8 August 2012.
Tortuga, the Brazilian market leader in organic trace minerals for animal nutrition and health with a focus on pasture raised beef and dairy cattle, strengthens DSM’s position in nutritional supplements and additives for ruminants and our presence in Brazil, one of the leading ruminant markets in the world.
Tortuga also broadens DSM’s animal nutrition ingredients portfolio with the highly attractive organic trace minerals, while offering many value creating synergies. Tortuga is headquartered in Sao Paulo, Brazil with approximately 1,200 employees.
Stephan Tanda, Member of the DSM Managing Board and responsible for the Nutrition cluster, commented: “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 1,200 employees to DSM.”
Full scale integration will now begin. A dedicated integration team consisting of both DSM and Tortuga representatives will work diligently to assess the best way to execute the integration while focusing on future synergy generation.