DSM: agrees to acquire Erber group
(CercleFinance.com) - The DSM share is up in Amsterdam after the Dutch chemical group announced that it has reached an agreement to acquire Erber Group, for an enterprise value of 980 million euros (about 14x 2020e EBITDA).
"The transaction - which excludes two smaller units in the Erber Group - is expected to be earnings enhancing in the first year upon completion," DSM, said, which expects the deal to be completed in Q4 2020.
With its specialty animal health and nutrition businesses (Biomin and Romer Labs), Erber Group reported annual sales of 330 million euros, with an adjusted EBITDA margin of over 20% in the twelve months to March 2020.
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