Sector News

Frutarom Industries Acquires US Flavors Company Foote & Jenks

June 30, 2015
Food & Drink
(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.

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