Frutarom Industries Ltd. (Haifa, Israel) announced an agreement to acquire Rieber Industrial Spices Savory activity and its fixed assets of Rieber & Søn ASA from Norway at the amount of approximately US$ 4.2 million. The acquisition is subject to the approval of the Norwegian Competition Authority, and Frutarom estimates the approval will be obtained within a number of weeks.
Reiber is an activity of the international food manufacturer Rieber & Søn ASA, and engages in the development, manufacture, and marketing of savory taste solutions (the non-sweet taste spectrum). Its product line includes flavors, seasoning compounds, and functional ingredients for the food industry, with a specialization in the processed meat, fish, and convenience food sectors. Rieber’s R&D, marketing, and manufacturing capabilities are located in its operational facility in Norway.