Omega 3 fish oil. (Photo Credit: Epax)

FMC buys Omega3 firm for USD 345 million

In its largest purchase ever, FMC Corporation has invested USD 345 million in all of the shares of two subsidiaries manufacturing high purity, premium grade Omega-3 fatty acid concentrates, with the aim to strengthen and expand FMC's presence in the nutraceutical market.

The Philadelphia-based chemical firm announced yesterday that it had purchased Epax Nutra Holding III AS (Norway) and Epax UK Holding III AS (United Kingdom) from private-equity company Lindsay Goldberg and Norwegian biotechnology firm Aker BioMarine ASA.

The aquisition of the Oslo producer of Omega 3 (purified fish oil) to supplement makers, and beverage and food companies emphasizes FMC's increasing interest in developing healthy nutrition.

“This acquisition introduces a premium Omega-3 fatty acid technology to our portfolio,” said Mike Smith, former head of its biopolymers section, who has been recently appointed to boost the ingredient into the personal care, drug and food industries.

The shares are expected to yield immediate profits.

"Earlier this year, we committed to invest in our FMC Health and Nutrition platform by expanding participation in nutraceuticals and similar high growth markets," commented Pierre Brondeau, FMC president, CEO and chairman in an official statement. "Today's announcement underscores our commitment to this strategy and builds on our strengths in functional ingredients for the food and pharmaceutical markets.  It also illustrates our resolve to meet or exceed FMC's Vision 2015 growth goals through targeted acquisitions that complement our technology, business and financial priorities."

EPAX is a leading producer of premium-quality Omega 3 purified oil. With the strongest demand being for the high purity, highly concentrated products from an increasingly health-conscious public and industries, the USD 2.1 billion per year market for supply of Omega-3 fatty acids is expected to grow 12 percent to 15 percent a year.  

Omega 3 fish oil is the darling of the nutraceutical industry with strong demand for the product with proven cardiovascular, brain and other health benefits.  

FMC already has businesses in the UK and a seaweed processing plant in Norway.

By Gabriela Raffaele
[email protected]
www.seafood.media

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