Laval, Quebec – Aker BioMarine Antarctics AS is buying the krill oil assets of Neptune Technologies & Bioresources Inc. for $34 million cash
Investment research firm Morningstar called it a “transformative transaction” allowing acceleration of Neptune’s expansion in more innovative segments while providing Aker BioMarine’s business more scale. This will allow the company to increase investments in science and product innovation, sustainable krill-harvesting practices, and marketing support.
“Neptune believes strongly in the health benefits that krill oil provides and will remain actively involved in the sector via our investment in Acasti Pharma Inc. and also through finished form soft gel capsules from our Solutions Business,” said Jim Hamilton, president and CEO of Neptune in announcing the deal.
Neptune’s customers and products will be integrated into Aker BioMarine, including the NKO ™ brand.
“These customers will continue to receive the products they are used to and at the same time benefit from the additional products and support Aker BioMarine will offer to drive growth in the omega-3 market,” said Matts Johnasen, CEO of Aker BioMarine.
“The marriage of these two brands is significant for the krill oil business,” Johansen added. “We have only just scratched the surface of the potential of krill oil and look forward to bringing NKO it our brand portfolio that we spent a decade building.”