Royal DSM has reached an agreement to acquire Aland (HK) Holding Limited, a Hong Kong-based company producing vitamin C in China.
Financial details will not be disclosed at this time.
Subject to customary conditions, the transaction is expected to close in the next six to nine months.
DSM previously announced on April 9, 2014 that it was in exclusive discussions to acquire Aland.
Acquiring Aland, one of the vitamin C manufacturers in China, allows DSM to further strengthen its position in vitamin C.
Aland increases DSM’s global footprint in vitamins for Human Nutrition & Health, Animal Nutrition & Health and Personal Care. DSM remains fully committed to its current vitamin C manufacturing facility in Dalry (Scotland, United Kingdom).
The acquisition reportedly fully meets DSM’s financial and strategic requirements.
Aland was founded in 1990 and has a production facility in Jingjiang, Jiangsu province in China.
In 2013 the company realized net sales of about US$90 million in vitamin C with about 1,850 employees.
The transaction excludes Aland’s consumer health activities.
DSM plans to invest in Aland’s production facilities for operational excellence including quality and environmental performance.
