Frutarom buys Extrakt Chemie in Germany; its fifth acquisition this year

Frutarom buys Extrakt Chemie in Germany; its fifth acquisition this year

10:45 AM, 3rd May 2016
Frutarom buys Extrakt Chemie in Germany; its fifth acquisition this year

HERZLIYA, ISRAEL: Frutarom Industries Ltd has acquired 100 percent stake in German’s natural specialty ingredient extract company Extrakt Chemie Dr Bruno Stellmach GmbH & Co KG (Extrakt Chemie), including the property on which Extrakt Chemie’s plant is situated for approx $6 million in cash plus the assumption of debt (net) amounting to approx $2.2 million.

Revenues of Extrakt Chemie for the fiscal year ended February 2016 amounted to approx $10 million.

Extrakt Chemie’s production capabilities and products reinforce Frutarom’s production and technological infrastructure and its portfolio of natural solutions in the pharma field.

Frutarom will work towards capitalizing on opportunities for optimizing its global resources in the field of natural extracts along with the cross-selling opportunities arising from this acquisition in expanding its R&D and production of natural specialty solutions combining taste and health in response to consumer demand and major trends towards healthier and more natural products in the global medications, nutritional supplements, foods and cosmetics markets.

Extrakt Chemie’s owners, and foremost among them its chief technologist and commercial manager with their decades of experience in the market for natural plant-based extracts, will join Frutarom's managerial ranks in its specialty fine ingredients division.

“This acquisition blends in well with our rapid and profitable growth strategy, deepening and expanding Frutarom's activity in the growing field of natural extracts, with emphasis on improving our operational efficiency which contributes to the continual improvement in Frutarom’s profitability,” said Ori Yehudai, president and CEO of Frutarom Group.

“The acquisition of Extrakt Chemie is the 30th acquisition we have made in the past five years and the fifth we have completed since the beginning of 2016 in continuing the implementation of our rapid and profitable growth strategy combining strategic acquisitions with internal growth surpassing the rates of growth in markets in which we operate,” Yehudai said.

© Worldofchemicals News

Read the latest news from Frutarom:

Frutarom continues buying spree; acquires US-based ingredients firm



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