Frutarom acquired its 30th company within the past five years: Extrakt Chemie Dr. Bruno Stellmach GmbH & Co. KG and its plant property for USD 6 million. There is an assumption of debt worth net USD 2.2 million. The purchase agreement includes a stipulation for future consideration conditional of Extrakt's business performance through 2017.
Established in 1969, Extrakt Chemie specializes in natural extracts, such as plant-based enzymes in pharmaceutical applications. The company's owners will join Frutarom's managerial ranks in the specialty fine ingredients division.
Of the acquisition, Ori Yehudai, president and CEO, Frutatrom said, "The acquisition of Extrakt Chemie is a natural continuation in the strengthening of our global infrastructure for natural ingredient extracts while diversifying and broadening our production capacity and capabilities in the field of pharma and natural medications and adding an efficient, high quality and reputable production base to Frutarom’s global production network."
