Royal DSM (Heerlen, The Netherlands) has entered into a definitive agreement to acquire Fortitech Inc. (Schenectady, N.Y.) for $634 million in cash. The transaction is expected to close before year’s end. Fortitech makes customized, value-added food ingredient blends for the food and beverage, infant nutrition, and dietary supplements industries. Net Fortitech sales in 2013 are expected to be about $270 million with an EBITDA of $70 million, resulting in an EV/EBITDA multiple of about 9....
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