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The total purchase price for this 75% holding represents an EV/EBITDA multiple of about 13x based on the 2019 expected EBITDA of the company, excluding synergies.
Royal DSM, a global science-based company in Nutrition, Health and Sustainable Living, informs its stakeholders that it has completed the increase of its shareholding in Andre Pectin Co. Ltd. Yantai, China (Andre Pectin) to 75%. The increase was first announced on 4 February 2019. Andre Pectin is a leading specialty food ingredient producer.
The total purchase price for this 75% holding represents an EV/EBITDA multiple of about 13x based on the 2019 expected EBITDA of the company, excluding synergies. The company sales are about €65m with an EBITDA margin above 25%.
The remaining 25% of the shares in Andre Pectin continues to be held by the Shandong Andre Group Co., Ltd, which supplies raw materials and utilities.
DSM will closely work with the Andre Group to continuously improve the operational performance of the company, ensuring reliable supply through its global sales network of high-quality (natural) pectin, while ensuring compliance with DSM’s safety, health and sustainability standards in the company’s operations.
In view of the transaction, DSM will consolidate the activities of Andre Pectin in its group results.