DSM manufactures chemicals used in nutrition, health care products, paint and electronics. It has annual net sales of about $8bn and employs about 22,700 people worldwide. Martek has about 525 employees and produces nutritional supplements. The acquisition adds new a growth platform for natural, healthy polyunsaturated fatty acids (PUFAs) and nutrition ingredients (Omega-3 DHA and Omega-6 ARA).
Feike Sijbesma, CEO and chairman of the DSM managing board, said: “Martek is a great company and a leader in the innovation, development, production and sale of high-value products from microbial sources that promote health and wellness through nutrition. DSM has enormous respect for Martek’s products, organisation and people. We look forward to working with their highly skilled team.
“This acquisition is an attractive and logical next step for DSM. Martek’s leading position in healthy, natural ingredients and algal technology will add a new growth platform to our Nutrition business. DSM is a unique partner for Martek and, with our strong track record of growing businesses in competitive environments, we believe we can help to lift Martek to the next level.”
Martek chairman Robert J Flanagan, said: “We are proud of the achievements of our company and are pleased to see the company’s value recognised by DSM. Following thorough analysis by our board of directors, we have determined that this transaction offers the best value for our stockholders.”
Martek CEO, Steve Dubin, said: “We are pleased to announce this transaction, and we believe that it is in the best interest of Martek and our stockholders. After careful analysis, our board of directors unanimously approved this transaction with DSM, which has a strong reputation and global operations. We are pleased that this transaction appropriately recognizes the value of Martek’s nutritional ingredients, technology platform, market position and skilled workforce, while providing significant value to our stockholders. We have worked collaboratively with DSM for many years, and we are confident that they share our vision for Martek’s future.”
Source: DSM
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