Frutarom Industries Ltd., continues its momentum of acquisitions and the implementation of its rapid and profitable growth strategy: the Company announced today the purchase of 79 percent of the shares of the Spanish company Nutrafur S.A. based on a company value of approx. $14.5 million (€ 13.1 million).
One of the world’s 10 largest companies in the field of flavors and specialty fine ingredients, Frutarom completed the transaction being financed with bank credit.
Nutrafur specializes in the research and development, 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.
Nutrafur sales for the 12-month period ending June 2015 amounted to approx. $13 million.
The value of Nutrafur’s net assets for 30.6.15 on a cash-free debt-free basis stood at approximately $11.4 million.