Dutch firm acquires Fortitech for $634 million
Royal DSM hopes acquisition will help it become more full-service and global.
The all-cash transaction is expected to close by the end of the year and New York-based Fortitech will become part of Royal DSM’s nutrition and health business.
This is DSM’s ninth acquisition since it announced a strategy to offer customers more full-service options. Part of the allure of Fortitech is its highly responsive customer service model, and its ability to manage highly complex solutions, DSM says.
“With Fortitech and its workforce, DSM will be able to deliver customized food ingredient premixes and blends to our customers while at the same time strengthening our international footprint,” says Leendert Staal, president and ceo of DSM Nutritional Products.
Staal adds that he looks forward to “welcoming Fortitech’s 520 employees to DSM.”
Founded in 1986, Fortitech specializes in developing custom food ingredient premixes and blends for the food and beverage, infant nutrition and dietary supplements industries.
“Together we boast a brighter and stronger scientific research database and unsurpassed technical excellence that will enable us to bring superior value to our products and services,” says Walter S. Borisenok, Fortitech’s president and ceo.