Frutarom to buy Chr. Hansen savory ops
Israeli food flavorings, specialty ingredients company Frutarom agreed to purchase Italy-based activity, assets of Danish food ingredients maker for $35.2 million
The deal, subject to anti-trust approval, is expected to be finalized in coming weeks, Frutarom said on Thursday.
"This acquisition is a continuation of Frutarom's rapid growth strategy," Frutarom Chief Executive Ori Yehudai said. "We will strive to take advantage of the cross-selling opportunities offered by this acquisition."
The move would be the third acquisition so far this year by Frutarom after it bought the savory activities of Norway's Rieber & Son and the assets and activities of UK company EAFI.
"We are confident that this acquisition will also contribute to Frutarom's continued fast and profitable growth," Yehudai said, adding the company "is continuously seeking additional strategic acquisitions of companies and activities."
The savory activity of Chr. Hansen, which had 2010 sales of $24.3 million, develops, produces and markets flavors, seasoning compounds and functional ingredients for the food industry. Included among the assets to be bought is a plant located in Parma, Italy.
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