Israeli flavoring and specialty ingredients company reinforces its presence in the US.
Israel’s Frutarom Industries, one of the world’s 10 biggest companies in the flavors and fine ingredients trade, recently announced its fourth acquisition this year of 100 percent of the share capital of US-based Hagelin for a cash consideration of $52.4 million. The acquisition strengthens Frutarom’s foothold in the world’s biggest flavor market. “The acquisition of this lucrative company will intensify Frutarom’s technological capabilities, especially in the growing and profitable beverage flavors sector, and adds to its R&D capabilities, sales and marketing infrastructure and cross-selling opportunities. In this acquisition, we will enjoy a significant reinforcement of excellent managers, R&D, sales and marketing personnel,” said Ori Yehudai, President and CEO of Frutarom. Frutarom’s products are intended mainly for the food, beverage, flavor, fragrance, pharmaceutical, nutraceutical, health food, functional food, food additives and cosmetic industries. Last month Frutarom bought out 75 percent of Russia’s Protein Technologies Ingredients for $50.3 million in cash. And earlier in 2013, the company paid $12.5 million for the Guatemalan flavor company Aroma SA and $5.2 million for JannDeRee in South Africa. Frutarom said its acquisition of Hagelin would help expand its product portfolio in the area of soft drinks.