ISRAEL: Frutarom acquires Hansen savoury unit
Ingredients and flavours producer Frutarom has acquired the savoury unit of German ingredients company Chr. Hansen in a deal worth US$7.3m.
Frutarom has bought a business that develops, produces and markets "unique and innovative" savoury solutions.
The acquired activity has a production site in Holdorf, Germany, located 140 km from Frutarom's production site in Nesse.
In the next months, Frutarom will shut down the Holdorf site and transfer the production to its sites in north and south Germany, while achieving significant operational savings.
"This acquisition is an additional step in the implementation of Frutarom's rapid growth strategy and further establishes Frutarom's position as one of the ten largest global leaders in the field of flavours and as a leading global producer of savoury flavours solutions," said Ori Yehudai, president and CEO of Frutarom.
"The acquisition considerably boosts both Frutarom's technological capabilities and its product offering to customers worldwide in the field of savoury flavours and functional products, as well as Frutarom's extensive global customer base."
Last month Frutarom reported a 5.5% decrease in first-quarter revenues to US$98.4m.
EBITDA fell to $14.5m, from $20.2m, with an EBITDA margin of 14.7% in the first quarter of 2009, against 16.6% in the same period last year. Net income for the first quarter of 2009 reached $5.6m, down from $9.7m in the first quarter of last year.
Israeli ingredients group Frutarom reported a drop in profit for the first nine months of the year as sales were affected by the strength of the dollar against European currencies....
Israeli ingredients group Frutarom has launched a corporate re-branding in a bid to express its "unique position" in the "combination of taste and health solutions"....
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