Frutarom Industries acquires 75 percent shares Protein Technologies $67 million
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Frutarom completes acquisition of Protein Technologies Ingredients

10:54 AM, 21st November 2013
Frutarom Industries acquires Protein Technologies 75 percent shares
Ori Yehudai, President, Frutarom.

HAIFA, ISRAEL: Frutarom Industries Ltd has completed the acquisition of 75 per cent of the share capital of the Protein Technologies Ingredients Group (PTI), for a cash consideration of $ 50.3 million ($67 million). The agreement includes an option to acquire the remaining share capital three years from now.

Following the acquisition, Frutarom will become one of the few global manufacturers with substantial production sites in Russia and with an R&D, sales, marketing and distribution system that is one of the largest and leading in Russia and neighboring countries.

“The acquisition of PTI continues the implementation of the rapid growth strategy of the Frutarom Group, and its vision “to be the preferred partner for tasty and healthy success.” This a major strategic acquisition, which bolsters Frutarom’s position as one of the world's largest and leading flavor companies, which is positioned as a leading global manufacturer of savory taste solutions. This acquisition reinforces Frutarom's technological capabilities and expands both the range of savory flavors (non-sweet tastes) and functional products offered to worldwide customers and its wide global customer base,” said Ori Yehudai, President, Frutarom.

 

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