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Following an announcement in March that it acquired 97.6% of shares in Etol d.d., Frutarom Industries Ltd. has delisted the company from the Slovenian stock exchange. The move makes Etol a private company, and in the upcoming weeks, Frutarom will move to buy the remaining shares from shareholders. In short, Frutarom will acquire all of Etol's share capital for around €35.5 million.
Etol is a Slovenian developer, producer and marketer of sweet and savory flavors. Its sales turnover increased 46% from 2006 to 2010, and its products are sold in more than 47 countries. It is Frutarom's eighth acquisition since the beginning of 2011.