Omega Protein Announces Acquisition of Wisconsin Specialty Protein
Omega Protein Corporation (NYSE: OME), a nutritional ingredient company and the nation's leading producer of omega-3 fish oil and specialty fish meal products, today announced the acquisition of Wisconsin Specialty Protein, a manufacturer of specialty whey protein products headquartered in Madison, Wisconsin.
"We are excited to further execute on our human nutrition growth strategy by expanding our presence in specialty proteins," commented Bret Scholtes, Omega Protein's President and Chief Executive Officer. "As a highly sought-after and differentiated ingredient, whey protein is a great complement to our existing line of value-added ingredients and advances our goal of providing sustainable, vital nutrition ingredients to the world. This acquisition positions Omega Protein to further leverage our human nutrition business through greater internal innovation, expanded distribution channels and additional strategic capital investment opportunities."
Wisconsin Specialty Protein produces a variety of value-added whey protein ingredients for the food and nutritional supplement industries, including organic and other specialty protein products, using processes applicable to a variety of nutritional dairy ingredients. The acquisition is expected to be accretive to earnings in 2013.
"Our combination with Omega Protein will fuel our strategy to provide unique, dairy-based nutritional ingredients to the most demanding global customers. We expect our expanded team and capabilities to provide a solid platform for continued innovation," commented Terry Olson, President of Wisconsin Specialty Protein.
Canaccord Genuity acted as exclusive financial advisor to Omega Protein in connection with the transaction, and Robert W. Baird & Co. acted as exclusive financial advisor to Wisconsin Specialty Protein.
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.