News

Frutarom completes acquisition of BSA for US$2 million

7 Jul 2017

Frutarom has exercised its option for the purchase of the remaining 5% balance of share capital of Les Ingredients Alimentaires BSA of Canada for approximately US$2 million.

Frutarom has exercised its option for the purchase of the remaining 5% balance of share capital of Les Ingredients Alimentaires BSA of Canada for approximately US$2 million, further to the purchase of 95% of BSA’s share capital in May 2015.

BSA was founded in 1989 and its main activity is the development, production and marketing of savoury taste solutions that include seasoning blends and functional ingredients for the food industry, with particular focus on the areas of processed meats and convenience foods. BSA has a site in Montreal and around 150 employees. Since the acquisition, BSA has exhibited double-digit growth along with significantly improved profitability margins.

“Frutarom sees great strategic importance for rapid growth in the field of savoury flavours in which it now holds a leading market position, and is focused on developing unique innovative natural and healthy products with high added value at its sites throughout the world. The global market for savoury flavours is growing due to the rise in standard of living and changes in lifestyle and consumer habits bringing about increased demand for processed and convenience foods both for home consumption and for eating out. Frutarom embarked about 10 years ago on a strategic course of action to significantly build up its global savoury activity by acquiring leading companies in their fields possessing unique solutions and a strong position in strategic target markets.”

"We are pleased with the success of the BSA acquisition which has contributed to significantly strengthening our presence in field of savory taste solutions in Canada and North America.The acquisition materially strengthened the technological capabilities, the product portfolio we offer our customers, and our broad local and global customer base. BSA is one of the leading local manufacturers in the Canadian market and, as we expected, the combination of a leading local manufacturing company with the support of a global company like Frutarom has strengthened our market leadership and accelerated the pace of our profitable internal growth.”