Royal DSM N.V., through its subsidiary, DSM Acquisition Canada Inc. (“DSM”), successfully completed the acquisition of all of the outstanding shares of Ocean Nutrition Canada Limited from Clearwater Fine Foods Incorporated, RFG Private Equity Limited Partnership No. 1A, RFG Private Equity Limited Partnership No. 1B, Richardson Capital Private Equity Limited Partnership No. 2A and Richardson Capital Private Equity Limited Partnership No. 2C (collectively, the “Shareholders”) in a transaction valued at $540 million.
Royal DSM is a global science-based company active in health, nutrition and materials. The acquisition allows DSM to strengthen and complement its newly established, global Nutritional Lipids growth platform. It strengthens DSM's position in the North American dietary supplement market by adding fish oil derived omega-3 fatty acids to its portfolio. It further allows DSM to leverage its global infrastructure to expand Ocean Nutrition Canada's sales in dietary supplement markets outside North America and in the food and beverage markets worldwide.
Ocean Nutrition Canada Limited (the “Company”) is the leading global provider of fish oil derived omega-3 fatty acids to the dietary supplement and food and beverage markets. The Company is headquartered in Halifax with approximately 415 employees and has production sites in Canada, the United States and Peru.
DSM was represented by Norton Rose Canada LLP with a team led by Amar Leclair-Ghosh that included Marie-Claude Mailloux and Melanie Dupuis-Giuliani (corporate); Derek Chiasson (tax) and Kevin Ackhurst (competition). David Reid of Cox & Palmer provided support on Nova Scotia law matters.
Acting for Ocean Nutrition Canada Limited were in-house counsel Charles Perez together with David Fraser, Fae Shaw, QC, Jamie Angus and Ben Pryde (corporate and banking) of McInnes Cooper.
The Shareholders were represented by Stikeman Elliott LLP with a team that included Joel Binder, Frank Reda and Lisa Culbert (corporate); John Lorito and Jill Winton (tax) and Paul Collins and Michael Kilby (competition).