(Reuters) – Nestle has agreed to buy the remaining 36.32 percent of Israeli foodmaker Osem for 3.3 billion shekels ($840.5 million), Osem said on Thursday.
Nestle is to buy 40.2 million shares at 82.5 shekels per share, above Wednesday’s closing price of 65.71 shekels.
At a market value of 7.3 billion shekels, Osem is Israel’s largest publicly traded foodmaker.
In a statement to the Tel Aviv Stock Exchange, Osem said the deal, which still is subject to various approvals, valued the company at 9.13 billion shekels.
Nestle currently owns 63.7 percent of Osem. Another 29.4 percent is traded on the Tel Aviv bourse.
Nestle in November had previously offered 80 shekels a share to buy the rest of Osem, the company said.
($1 = 3.9261 shekels) (Reporting by Steven Scheer and Ari Rabinovitch; editing by Jason Neely)
The facility is designed to foster innovation and deepen collaboration with customers, by offering a range of new services and solidifying its role as a central hub for customer support. Tereos’ team, supported by a network of 50 scientists, will ensure customers can innovate and meet the rising consumer demand for healthier and more sustainable products.
Glanbia has agreed to acquire Flavor Producers from Aroma Holding for an initial consideration of $300 million. Flavor Producers is a US-based flavour platform, providing flavours and extracts to the F&B industries, with a focus on organic and natural ingredients.
Lesnard, who previously worked at Nike, The North Face and Sephora, has a mission to “grow and sustain GODIVA’s position and expertise in the premium chocolate category, leveraging ongoing support from pladis to take GODIVA and its legendary chocolate to new heights.”
