Israeli ingredients firm Frutarom today (5 January) announced it has acquired UK company Savoury Flavours.
Founded in 1999, Savoury manufactures flavours, seasoning compounds, marinades and sauces.
Frutarom, which paid GBP3.8m (US$5.9m) for the business, said Savoury grew turnover to GBP4.1m in the year ending 30 September, up from GBP3.2m for the same period in 2010.
Ori Yehudai, president and CEO of Frutarom, said the acquisition will create synergies thanks to its other UK operations. In August, Frutarom acquired another UK flavouring company, Aromco, for $25m.
“After five acquisitions completed in 2011, Frutarom is opening 2012 with an additional acquisition, which continues to strengthen its activities in the savoury segment in Europe and in developing markets,” he said.
“The global market for savoury flavours is growing as a result of trends in improved quality-of-life and changes in consumer behaviour, causing increased demand for processed and convenience foods.”
Savoury MD and founder Mark Towler will continue to manage the business.