UPDATE 1-DSM buys Brazil animal nutrition firm for 465 mln eur
* DSM buys privately-held Tortuga in all-cash deal
* Purchase price could be increased by 25 mln euros
* Deal will immediately increase DSM's earnings/share (Adds detail)
AMSTERDAM, Aug 8 (Reuters) - Dutch food and chemicals group DSM has agreed to buy privately-held Brazilian animal nutrition company Tortuga for about 465 million euros ($578 million) to strengthen its presence in Latin America, making its fourth big acquisition.
DSM, the world's largest vitamin maker, has sold off its lower-margin bulk chemicals businesses to focus on less cyclical areas including food ingredients and high-end plastics, and has made three other big purchases in the past year and a half.
DSM said in a statement it could pay a maximum of 25 million euros extra to the owners of Tortuga if the company's operating profit came in higher than expected.
Tortuga, which sells nutritional supplements for chickens, swine, cows and other cattle animals in Latin America, is expected to have sales of 385 million euros this year and an operating profit of about 60 million euros, DSM said.
The deal, which will be paid in cash and is expected to close in the first quarter of next year, will immediately increase DSM's earnings per share, the company said.
DSM bought Ocean Nutrition Canada (ONC), the world's biggest producer of a fish oil extract believed to boost brain power, in May for about 420 million euros in an all-cash deal.
The acquisition complements Martek, the U.S. food ingredients company which DSM bought in February 2011 for $1.1 billion.
Earlier in May, DSM bought U.S. medical device-maker Kensey Nash Corp for $360 million to strengthen its biomedical business. ($1 = 0.8052 euros) (Reporting by Gilbert Kreijger; Editing by Sara Webb and Helen Massy-Beresford)
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