dsm-firmenich completes acquisition of postbiotics pioneer Adare Biome

KAISERAUGST, Switzerland and HEERLEN, Netherlands, July 3, 2023 /PRNewswire/ -- dsm-firmenich, innovators in nutrition, health, and beauty, confirms the completion of its acquisition of Adare Biome, a pioneer in the development and manufacturing of postbiotics, as first announced on April 19 2003, for an enterprise value of €275 million. This transaction represents an estimated 2023 EV/EBITDA multiple of 18x.

About dsm-firmenich
As innovators in nutrition, health, and beauty, dsm-firmenich reinvents, manufactures, and combines vital nutrients, flavors, and fragrances for the world's growing population to thrive. With our comprehensive range of solutions, with natural and renewable ingredients and renowned science and technology capabilities, we work to create what is essential for life, desirable for consumers, and more sustainable for the planet. dsm-firmenich is a Swiss-Dutch company, listed on the Euronext Amsterdam, with operations in almost 60 countries and revenues of more than €12 billion. With a diverse, worldwide team of nearly 30,000 employees, we bring progress to life™ every day, everywhere, for billions of people.
www.dsm-firmenich.com

About Adare Biome
Adare Biome develops, produces, and commercializes high-quality postbiotic solutions, including its pharmaceutical product, Lactéol®, which is marketed in almost 40 countries around the world. Its ingredients, including LBiome™ and LBiotix™, are used for digestive health applications in human, pet, and production animals. Adare Biome is based in Houdan, France. More information can be found at www.adarebiome.com.

About Adare Pharma Solutions
Adare Pharma Solutions is a global, technology-driven CDMO providing product development through commercial manufacturing expertise, with a focus on oral dosage forms for the pharmaceutical industry. Adare's specialized technology platforms provide taste masking, controlled release, solubility enhancement, and patient-centric dosing solutions. With a proven history in drug delivery, Adare has developed and manufactured more than 65 products sold by customers in more than 100 countries globally. More information can be found at www.adarepharmasolutions.com.

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Forward-looking statements

This press release may contain forward-looking statements with respect to dsm-firmenich's future (financial) performance and position. Such statements are based on current expectations, estimates and projections of dsm-firmenich and information currently available to the company. dsm-firmenich cautions readers that such statements involve certain risks and uncertainties that are difficult to predict and therefore it should be understood that many factors can cause actual performance and position to differ materially from these statements. dsm-firmenich has no obligation to update the statements contained in this press release, unless required by law. The English language version of this press release prevails over other language versions.

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