Israeli flavors and natural specialist, Frutarom Industries Ltd., has acquired 100 percent of the German partnership Extrakt Chemie Dr. Bruno Stellmach GmbH &Co. KG, as well as the property on which Extrakt Chemie’s plant is situated in exchange for approximately USD 6 million in cash (approx. € 5.3 million) plus the assumption of debt (net) amounting to approx. USD 2.2 million (approx. € 2 million).
Frutarom is one of the world’s 10 largest companies in the field of flavors and natural specialty fine ingredients, continues its momentum of acquisitions and the implementation of its rapid and profitable growth strategy with the fifth acquisition in 2016.
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Revenues of Extrakt Chemie for the fiscal year ended February 2016 amounted to approx. USD 10 million (approx. € 9 million). The purchase agreement includes a mechanism for future consideration conditional on the business performance of Extrakt Chemie during 2016 and 2017. The transaction was independently financed.
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