News
Frutarom continues acquisition spree by buying Switzerland's Mühlehof
23 Aug 2017Frutarom has signed an agreement for the purchase of 100% of the shares of the Swiss company Mühlehof for approximately $7 million. Mühlehof turnover totalled approx. $3.4 million over the past 12 months.
Frutarom has signed an agreement for the purchase of 100% of the shares of the Swiss company Mühlehof for approximately $7 million. According to Mühlehof management reports, its sales turnover for the 12 months ending in June 2017 totalled approx. $3.4 million.
Mühlehof, which was founded in 1979, engages in the development, production and marketing of savoury taste solutions, including flavours, seasoning blends, marinades and functional ingredients for the food industry, with emphasis on convenience foods and meats. The company, with 9 employees, has a site in Switzerland for development. Its customer base includes leading Swiss retail chains for which Frutarom says it foresees a large number and variety of cross-selling opportunities. "This is another acquisition of activity in Frutarom’s core field which strengthens our market leadership in the field of savoury overall and in Switzerland in particular, and enables us to offer our customers and Mühlehof customers a broader portfolio of solutions based on the innovation and technologies of Frutarom products in the savoury segment, and to even further improve our service with our now having a production base in Switzerland in the field of savoury solutions. In addition, we will work towards achieving the maximum possible commercial and operational efficiency from merging Mühlehof’s activity with our activity in Switzerland, Germany, Austria and Italy.”