Israeli flavors and specialty fine ingredients company Frutarom Industries Ltd. (TASE: FRUT; LSE:FRUT; OTCBB:FRUTF) announced today that it has acquired the balance of 20.92% of the shares of the Spanish company Nutrafur S.A. from the company’s founding families for $ 2.36 million. Frutarom now holds 100% of Nutrafur shares. The transaction was completed upon signing.
Frutarom acquired 79% of Nutrafur's shares in September 2015. The Spanish company specializes in R&D, manufacture, and sales and marketing of specialty natural plant extracts bearing antioxidant properties or scientifically proven healthy qualities and supported by clinical studies for the food, pharma, nutraceutical and cosmetics markets.
Frutarom president and CEO Ori Yehudai said, "Over the past two years Frutarom has made a major leap forward in strengthening its position as a leading global producer of natural specialty ingredients by acquiring Vitiva, Ingrenat, Nutrafur and Extrakt-Chemie while deepening and expanding our activity in the growing field of natural extracts from plants and antioxidants for food products. We will continue investing in the significant expansion of our global activity in this important and growing field, both through strategic acquisitions and in collaboration with universities, research institutes and startup companies in developing innovative products.
He added, "We are pleased with the Nutrafur acquisition which has brought Frutarom advanced R&D capabilities along with a top-level and experienced managerial team, as well as substantial customers."
Published by Globes [online], Israel business news - www.globes-online.com - on June 13, 2017
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