- Fatty acid maker Neptune Technologies and Bioressources (NASDAQ:NEPT -1.7%) has acquired Biodroga, a privately held turnkey provider of dietary supplement solutions.
- The deal comes to C$15M in cash and stock (C$3.75M in Neptune common shares). Like its new parent, Biodroga provides Omega-3 fatty acids, as well as other ingredients, mainly to branded marketers in North America.
- The company has trailing 12-month revenues of C$22M, and the deal price represents a multiple of about five times trailing 12-month EBITDA. Neptune says the highly complementary business has no overlap (expanding the addressable market) and the deal is expected to be immediately accretive.
- The company will hold a conference call to discuss the deal on Friday at 8:30 a.m. ET.