Norway's Aker BioMarine will buy the business bought by Frutarom from Enzymotec.
Frutarom Industries Ltd. (TASE: FRUT; LSE:FRUT; OTCBB:FRUTF) has completed the integration of Enzymotec into its business.
As part of this, Frutarom has announced the sale of Enzymotec’s krill oil business, which is not a core activity of Frutarom, to Aker BioMarine of Norway for $26.4 million. Aker BioMarine and Frutarom have established a strategic partnership in which Aker BioMarine will serve Frutarom's and Enzymotec’s nutraceutical krill oil customers.
Enzymotec, led by CEO Ori Yehudai, will focus on areas which the company views as its main core activities, with emphasis on the growing and profitable fields of infant formula, elderly clinical nutrition, dietary supplements and pharmaceuticals, and the company will work towards accelerating growth in these fields which have significant business potential.
Published by Globes [online], Israel business news - www.globes-online.com - on January 17, 2018
© Copyright of Globes Publisher Itonut (1983) Ltd. 2018
Ori Yehudai photo: Eyal Izhar