Sector News

Frutarom Industries Acquires US Flavors Company Foote & Jenks

June 30, 2015
Consumer Packaged Goods
(RTTNews) – Israeli flavors and specialty fine ingredients firm Frutarom Industries Ltd. (FRUTF) announced that it has acquired 100 percent of the share capital of the US flavors company Foote & Jenks for about $4 million. The deal was completed upon the signing of the agreement and financed through bank debt.
 
Frutarom said it sees significant synergies between Foote & Jenks activity and Frutarom’s flavors activity in the US, and intends to leverage the cross-selling possibilities that the acquisition generates both by expanding the product portfolio and by broadening the customer base.
 
Founded in the early 1980s, Foote & Jenks develops, manufactures and markets flavor extracts for the pharma, food and beverages industries. The company generated a sales turnover of about $2.9 million in 2014.
 
Frutarom noted that this is its eighth acquisition in 2015 as part of its plan to expand activity in the US market. It is now working towards identifying and executing further strategic acquisitions in its bid to implement rapid and profitable growth strategy combining internal growth.

comments closed

Related News

April 26, 2024

Haleon names new Finance Chief and new CHRO

Consumer Packaged Goods

Consumer healthcare firm Haleon has appointed Tate & Lyle executive Dawn Allen as its new chief financial officer, effective 1 November 2024. Allen will succeed Tobias Hestler, who has decided to step down from the role, citing a long-term health condition, the company said.

April 26, 2024

Campari to double Aperol production capacity with €75m investment

Consumer Packaged Goods

The group said that the bottling line, which adds 6,500 square metres to the existing 60,700-square-metre site, is the next necessary stage in the company’s international development. The leading brand in Campari Group’s global sales, demand for the Italian bitter apéritif has grown by 500% in the last decade.

April 26, 2024

Coca-Cola enters $1.1bn strategic partnership with Microsoft

Consumer Packaged Goods

The partnership will see Coca-Cola adopt new technology to foster innovation and productivity globally. Through the deal, Coca-Cola has made a $1.1 billion commitment to the Microsoft Cloud and its generative AI capabilities.

How can we help you?

We're easy to reach