Life and materials sciences company DSM announced that Bain Capital was acquiring its 50% stake in DSM Sinochem Pharmaceuticals for about €250 million.
DSM expects to receive approximately €275 million in cash following closing, including repayment of debt and after costs, with an earn-out from the sale of around €50 million. The transaction is expected to be completed in the fourth quarter of 2018, subject to standard conditions.
DSM also announced it has become the largest shareholder in US based personalized nutrition startup company Mixfit Inc.
Jeremy Xu, President of DSM Human Health & Nutrition, said "As consumers across the world become more engaged in their health and wellbeing, there is a growing need for a more personalized approach to nutrition. This acquisition connects the complementary and unique expertise of both DSM and Mixfit to support consumers in achieving their nutrition goals. It is an important milestone in the execution of our personalized nutrition strategy to build a platform and extend it to the consumer."