Israel based ingredients company Frutarom has announced the purchase of the flavouring extracts business of A M Todd Botanical Therapeutics.
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The acquisition will be executed through Frutarom’s wholly owned subsidiary, Frutarom USA Inc. This acquisition is another step in implementing Frutarom’s rapid growth strategy, combining organic growth of core activities at rates that are above the industry average with strategic acquisitions of activities and know-how in its main fields of business and in strategic geographic regions, the company said.
The acquisition is intended to continue strengthening Frutarom’s flavour extracts capabilities and market leadership position, and to support Frutarom’s growth in the US market, it said
The acquired activity’s sales in 2004 were $1.8m, and represent a potential value of several million dollars of increased revenues over the next few years. In consideration for the acquired activity Frutarom will pay up to $325,000.
The acquired activity will be integrated with Frutarom USA’s existing activity at its North Bergen manufacturing facility. The company does not expect any additional resources will be required. Frutarom continues to invest substantial resources in identifying and executing strategic acquisitions to strengthen its position in the United States.
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