Frutarom acquires Scandia Citrus in US; its ninth acquisition this year

Frutarom acquires Scandia Citrus in US; its ninth acquisition this year

9:46 AM, 29th July 2015
Frutarom acquires Scandia Citrus in US; its ninth acquisition this year
Ori Yehudai, president and CEO, Frutarom Group. (File photo)

HERZLIYA, ISRAEL: Frutarom Industries Ltd said it has acquired the business operations and assets of Florida, US-based Scandia Citrus LLC, which specializes in specialty solutions in the field of citrus for leading global customers in the flavour, food and beverages markets, for approximately $6 million. 

Scandia’s sales in 2014 totaled approximately US$ 8 million, Frutarom said.

This acquisition joins that of CitraSource last year which also specializes in citrus and whose production facilities and development labs are also situated in Florida not far from those of Scandia.

Scandia’s extensive knowledge in citrus, R&D and marketing capabilities, and its unique technology for molecular distillation of citrus oils, combined with Frutarom’s experience, know-how, capabilities and pool of customers in this field which expanded significantly following the acquisition of CitraSource last year, will enable Frutarom to further strengthen its centre of excellence in Florida.

Frutarom will combine Scandia’s activity at its existing site in Florida, US, while attaining maximal savings and efficiency. Scandia’s executives, Wesley Beck and Dr Robert Kryger, together with Ben Yehuda and Aulick who continue managing the activity of CitraSource, will help Frutarom to grow and deepen its global activity in the field of citrus.

“The acquisition provides Frutarom advanced R&D capabilities, global purchasing capabilities in north, central and south America and it enhances our presence in Florida – one of the worldwide centres for citrus. The acquisition is part of our strategy to expand in the US and broaden our natural products portfolio in response to market trends and needs of customers in the flavours and food & beverages market,” said Ori Yehudai, president and CEO, Frutarom Group.

"The acquisition of Scandia joins the eight acquisitions completed since the beginning of the year. We will continue to implement our rapid and profitable growth strategy and look for further strategic acquisitions of companies and operations in our fields of activity,” Yehudai added.

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