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Frutarom Acquires Shares
Posted: January 20, 2006
Frutarom has acquired 70 percent of the shares in savory ingredients provider GewurzMuhle Nesse. Shares in the German-based firm were bought for 18.41 million euros, plus a future success fee payment based on continued improvement in Nesse’s future EBIT.
Of the purchase, Frutarom president Ori Yehudai said, “The acquisition will significantly strengthen Frutarom’s technological capabilities and savory offering, as well as our market position in both West and East Europe as leading flavors supplier, while contributing to our sales turnover and profit.