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news.Atrium Innovations, a Canada-based developer, manufacturer and marketer of science-based dietary supplements for the health and nutrition industry, has acquired Minami Nutrition.
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As per the terms of the acquisition, Atrium acquired Minami for a total cash consideration of EUR5.5m ($7.38m) before a revenue earn-out payment of up to EUR2m ($2.68m) payable at the end of 2011 if the revenue growth reaches 20%.
Atrium president and CEO Pierre Fitzgibbon said the company seeks worldwide for acquisitions with brands and products that can reinforce its commitment to innovation and superior quality products, and Minami’s Omega-3 clearly stands apart in this market category.
Jo Wyckmans, founder of Minami, will remain with Minami and will assist with its continued growth in Europe through Atrium’s MCO Health organization.