Frutarom makes 10th acquisition8 Sep 2015
Frutarom has continued its momentum of acquisitions and the implementation of its growth strategy with the purchase of 79% of the shares of Spanish company Nutrafur based on a company value of approx. $14.5 million (€13.1 million). This marks its tenth acquisition this year. Nutrafur specialises in the research and development, manufacture, and sales and […]
Frutarom has continued its momentum of acquisitions and the implementation of its growth strategy with the purchase of 79% of the shares of Spanish company Nutrafur based on a company value of approx. $14.5 million (€13.1 million). This marks its tenth acquisition this year.
Nutrafur specialises 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.
According to Frutarom, Nutrafur has accumulated many years of know-how and excellent capabilities in the extraction of active components from vegetation, particularly rosemary, olive and citrus. Nutrafur products blend in well with Frutarom’s portfolio of natural ingredient solutions, the company said, and will help expand Frutarom’s lineup of natural products for both food and health products. Nutrafur’s activity in the field of antioxidants, particularly in the area of food preservation and protection and extending of shelf life based on natural components, establishes even further Frutarom’s portfolio of solutions in this field which it says has been significantly strengthened following its acquisitions earlier this year of Vitiva and Ingrenat which are also active in this growing field.
“Over the last few months Frutarom has made a major leap forward in strengthening its position as a leading global producer of natural specialty ingredients and the acquisition of Nutrafur fits in well with our rapid and profitable growth strategy while deepening and expanding Frutarom’s activity in the growing field of natural plant extracts and antioxidants for food products,” said Ori Yehudai, President and CEO of Frutarom. “We will continue investing in considerably expanding our global activity in this important and growing field both by means of strategic acquisitions and through collaboration with universities, research institutes and innovative product development startup companies.”
“The Nutrafur acquisition affords Frutarom advanced R&D capabilities along with a top-level and experienced managerial team, as well as substantial customers. The acquisition provides an opportunity for improving the Group’s operational flexibility and efficiency. Thanks to Frutarom’s proven experience in the successful execution of acquisitions and realization of the many synergetic and cross-selling opportunities inherent in combining acquired activities with those of Frutarom, we are convinced that this acquisition too will contribute towards the continuation of Frutarom’s rapid and profitable growth and will generate top value for our customers, our employees, and our investors.”
“The acquisition of Nutrafur is our tenth acquisition since the beginning of the year and we are working on identifying and executing further strategic acquisitions. We will continue implementing our rapid growth strategy which is based on combining profitable internal growth with strategic acquisitions in order to achieve the goals we recently set for ourselves: sales reaching at least US$ 1.5 billion with an EBITDA margin of over 22% for our core activities by the year 2020.”
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