Frutarom acquire Belgian flavors company, Taiga International

Frutarom to acquire Belgian flavors company, Taiga International

11:41 AM, 18th March 2015
Frutarom to acquire Belgian flavors company, Taiga International

HERZLIYA, ISRAEL: Frutarom Industries Ltd has acquired 100 per cent of the share capital of the Belgian flavors company Taiga International NV in exchange for payment of approximately $2.9 million. The transaction was completed upon signing the agreement and was independently financed.

Frutarom will work towards capitalizing to the fullest on the abundant cross-selling possibilities presented by the acquisition and aims to expand the product line sold to the company’s existing customer base. Frutarom will also strive to maximize operational and commercial efficiency from the merging of Taiga’s activities with its own activity in Europe based on Frutarom’s existing infrastructure and optimization of production sites.

“This is an acquisition of activity in the field of flavors, Frutarom’s core activity, which boasts high profitability margins. We see significant synergies between Taiga’s activity and Frutarom’s flavors activity in Europe and intend to leverage the cross-selling opportunities generated by this acquisition both by broadening the product portfolio and expanding the customer base,” said Ori Yehudai, President and CEO, Frutarom Group.

“We are continuing to implement our rapid and profitable growth strategy which combines internal growth and strategic acquisitions. The acquisition of Taiga is the third acquisition we are performing this year, and follows the three acquisitions in 2014. Meanwhile, we are continuing to work towards identifying and carrying out further acquisitions of companies and operations in our fields of activity, placing particular focus on markets exhibiting high rates of growth,” added Yehudai.

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