Frutarom acquire US flavours firm F&J; its eighth acquisition this year

Frutarom to acquire US flavours firm F&J; its eighth acquisition this year

9:13 AM, 30th June 2015
Frutarom to acquire US flavours firm F&J; its eighth acquisition this year
Ori Yehudai, president and CEO, Frutarom Group. (File photo)

HERZLIYA, ISRAEL: Frutarom Industries Ltd said it continues to implement its rapid growth strategy and has acquired the 100 percent share capital of the US flavours company, Foote & Jenks for about $4 million.

Founded in the early 1980s, F&J develops, manufactures and markets flavour extracts for the pharma, food and beverages industries. The company has 10 employees, a production, R&D and marketing activities site in New Jersey and a broad customer base in North America. Sales turnover for F&J in 2014 amounted to approximately $2.9 million, Frutarom said.

Frutarom will look to fully capitalize on the many cross-selling opportunities arising from the acquisition and expanding the product portfolio offered to the company’s existing customer base.

“This is an acquisition of growing flavour activity, Frutarom’s most profitable core field. A major part of F&J sales is in pharma industry who demand advanced solutions for masking the aftertaste of active ingredients contained in their products and conformance with strict regulatory requirements. Frutarom already operating in this area, sees this as an attractive field along with its activity in the pharma and nutraceutical industries,” said Ori Yehudai, president and CEO, Frutarom Group.

“The acquisition of F&J is the eighth acquisition we are completing this year, reflective of our plan to expand in the US market. We will continue to implement our rapid and profitable growth strategy combining internal growth and strategic acquisitions,” added Yehudai.

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