Venable Advises Aker BioMarine Antarctic AS on the Purchase of Krill Oil Business and Intellectual Property from Neptune Technologies & Bioressources Inc.

2 min

Venable represented Aker BioMarine Antarctic AS ("Aker BioMarine") in the purchase of the krill oil inventory, customer accounts and certain krill oil-related intellectual property from Neptune Technologies & Bioressources Inc. ("Neptune") (NASDAQ: NEPT) (TSX: NEPT) on August 8, 2017 for approximately $34 million U.S. dollars. The acquired business enables Aker BioMarine to increase its investments in science and product innovation, sustainable krill-harvesting practices and marketing support for its customers in an effort to promote growth in the omega-3 market. With the transaction, Neptune withdraws from the bulk krill oil manufacturing and distribution business.

Aker BioMarine is a leading supplier of krill-derived products to the consumer health and wellness and animal nutrition markets. A biotech innovator, the company develops krill-based ingredients for nutraceutical, aquaculture, and animal feed applications. Aker BioMarine's value chain stretches from sustainable krill harvesting in Antarctic waters through its Montevideo logistics hub, Houston production plant, and to customers around the world. Aker BioMarine is fully owned by Aker ASA, an industrial pioneer since its establishment in 1841.

Neptune is a wellness products company that develops turnkey solutions available in various unique delivery forms and offers specialty ingredients and a variety of marine and seed oils. Neptune also pursues opportunities in the prescription drug markets through its owned subsidiary Acasti Pharma Inc., which focuses on the research, development and commercialization of omega-3 phospholipid therapies for the treatment of severe hypertriglyceridemia. Neptune's head office is located in Laval, Quebec.

Philip von Mehren led the Venable team in the acquisition. Andrew F. Pratt and James E. Nelson provided counsel on the intellectual property agreements and related issues. Lindsay M. Monti, assisted by Rebecca J. Newman and Blair R. Springer, supported on corporate matters. Cameron C. Cole and Pauline P. Jaturongpanich, assisted by Crystal K. Vine, supported on intellectual property matters. Robert P. Davis advised on competition issues. The Venable team worked with Schjødt AS, Norwegian M&A counsel to Aker BioMarine.