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Atrium Innovations to buy Germany’s Mucos for $175 million
August 2007
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QUEBEC CITY—Atrium Innovations Inc., announced in July the acquisition of Germany-based Mucos Emulsions GmbH. Mucos, whose main brand is Wobenzym, has been marketing enzyme-based products for over 50 years and had 2006 annual revenues of approximately E62 million (US$85 million). By acquiring Mucos, Atrium establishes its Health & Nutrition Division in Europe with a leading brand and gains privileged access to the German market, the largest European market for dietary supplements.
 
"This strategic acquisition allows Atrium to establish a significant presence in Europe with a long-established and leading brand in the fast growing health and nutrition market. This is the first step taken by the Health & Nutrition Division to achieve market leadership in Europe. It should be followed by further acquisitions and strong organic growth as we did in the United States and Canada. Moreover, this acquisition marks a major step in our company's growth strategy aimed at positioning each of our two divisions as worldwide leaders," stated Pierre Fitzgibbon, Atrium's president and CEO.
 
Under the agreement, Atrium will acquire Mucos for the total amount of E127.5 million (US$175 million), representing approximately 6.5 times the normalized EBITDA generated by Mucos. The total amount will be paid in cash and will come from cash on hand and a newly negotiated credit facility of $350 million that can be increased to $425 million under certain conditions.

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