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DSM acquires bio-based intermediates business from Amyris

April 01/2021

MOSCOW (MRC) -- DSM has reached an agreement to acquire bio-based flavours and fragrances intermediates business from US-based renewable chemicals firm Amyris, as per the company's press release.

The acquisition will expand DSM's foothold in bio-based ingredients in the aromas sector. The business consists of a portfolio of seven intermediate products - four which generate revenues, two which have just been launched and one under development.

DSM will acquire the business for an upfront consideration of USD150 million, which represents an estimated 15x EV/EBITDA 2021 multiple. Amyris will share in the EBITDA growth over the period 2021-2024 of certain of the activities (mainly the products just launched/ under development), receiving additional earn-outs equal to 9x the realized EBITDA in 2024, which is estimated to result in a total earn-out amount of USD100-150 million.

DSM and Amyris will continue their R&D partnerships.

As MRC informed before, earlier this year, SABIC, a global leader in the chemical industry, collaborated with DSM and Viscofan in the development of an innovative multi-barrier film for meat casings. The film combines layers of a SABICs certified circular polyethylene (PE) from its TRUCIRCLE portfolio and a circular polyamide (PA) from DSM Engineering Materials in a more sustainable packaging solution without compromising the high functional and aesthetic performance required in the fresh food packaging market.

According to MRC's ScanPlast report, Russia's estimated PE consumption totalled 241,030 tonnes in January 2021 versus 217,890 tonnes a year earlier. Only shipments of low density polyethylene (LDPE) and high density polyethylene (HDPE) increased.

Royal DSM, commonly known as DSM, is a Dutch multinational corporation active in the fields of health, nutrition and materials. The Materials cluster is made up of DSM Engineering Materials, DSM Protective Materials and DSM Resins & Functional Materials. DSM Engineering Materials specialty plastics are used in components for the electrical and electronics, automotive, flexible food packaging and consumer goods industries.
Author:Margaret Volkova
Tags:Europe, bioplastics, PE, compounding, petrochemistry, packaging, film, poliamid, DSM, Sabic, Russia, USA.
Category:General News
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