Fortitech, a privately held company based in Schenectady (US), is a company specialising in customised, value added food ingredient blends for food and beverage, infant nutrition and dietary supplements industries.
The company has approximately 520 employees. Fortitech has six production sites located in New York (USA), California (USA), Campinas (Brazil), Kuala Lumpur (Malaysia), Gastrup (Denmark) and Poznan (Poland), with sales offices in China and Mexico.
Net sales for 2013 are expected to be about $270m with an EBITDA of about $70m, including synergies and excluding exceptional items, resulting in an EV/EBITDA multiple of about nine.
The acquisition of Fortitech will accelerate DSM’s strategy to become a full solutions provider in food ingredient blends. For DSM the acquisition of Fortitech will expand its value chain presence, while adding additional capabilities to its business.
Source: DSM
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