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FMC Acquires Omega 3 Producer Epax

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By: Sean Moloughney

Editor, Nutraceuticals World

FMC Corporation, Philadelphia, PA, has acquired all of the shares of Norway-based Epax Nutra Holding III AS and Epax UK Holding III AS of the U.K. Epax is a manufacturer of omega 3 fatty acid concentrates that are used in nutraceuticals, pharmaceuticals and food, which was formerly part of Trygg Pharma Group AS, an omega 3 pharmaceutical company. According to FMC, this acquisition strengthens and expands the company’s presence in the high growth nutraceutical market.

The transaction valued at approximately $345 million reflects a 2013 EBITDA multiple in line with FMC’s current trading multiple and is expected to be immediately accretive to earnings per share. As a part of the overall transaction, FMC has entered into a long-term supply agreement with Trygg Pharma to provide the company with high-concentration omega 3 fish oil for use as an active pharmaceutical ingredient.

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