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Royal DSM, the global Life Sciences and Materials Sciences company, announced today that it has entered into a definitive agreement to acquire Fortitech, Inc. (Fortitech) in an all cash transaction for a total enterprise value of $634 million (about €495 million). Subject to customary conditions, the transaction is expected to close before the end of the year.
Fortitech, a privately held company based in Schenectady, N.Y., is a leader in customized, value added food ingredient blends for food & 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.
Founded in 1986, Fortitech develops custom food ingredient premixes and blends for the food and beverage, infant nutrition and dietary supplements industries. Fortitech is FS 22000 certified, with a stringent Allergen Monitoring Program, and operates to cGMP, GMO-free, HACCP, Organic, Kosher and Halal standards.
More information can be found at www.dsm.com.