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Frutarom Makes 7th Purchase in ‘07
Posted: November 19, 2007
Frutarom (Haifa, Israel) has purchased RAD Natural Technologies—an Israeli company specializing in the research, development, production and sale of antioxidant plant extracts—for $4.1 million. In 2004, the two companies entered into an agreement, giving Frutarom worldwide marketing rights to a range of RAD’s natural antioxidants.
The acquisition includes all of RAD’s assets and an earn-out mechanism based on future sales: If RAD sales amount to more than $11 million in 2008–2009 it will be entitled to an additional $4.9 million. RAD’s products will be incorporated into Frutarom’s Flavors division. Frutarom’s acquisitions thus far in 2007 include: Gewurzmueller, Raychan, Abaco, Adumim Food Additives, Jupiter and Belmay.