Flavourings and ingredients group Frutarom Industries is set to buy Israeli flavours and ingredients producer Raychan Food Industries for US$1.05m.
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Frutarom said it expected the acquisition to broaden the company’s presence in the savoury and functional product categories in Israel and worldwide. Raychan had sales of around US$5.5m in 2006, principally in Israel.
“The acquisition further supports Frutarom’s strength and position,” said Ori Yehudai, president and CEO of the Frutarom Group. “Frutarom is already one of the ten largest companies in the world in the field of flavours and fragrances.”
The deal remains subject to the final approval of the Israeli Anti Trust Commissioner.
This is Frutarom’s third acquisition this year, and follows the purchase of UK companies Belmay and Jupiter.
