Frutarom was recently approached by several multinational F&F houses regarding a possible acquisition, according to financial news website Calcalist. The Israel-based company, led by CEO Ori Yehudai, made 22 acquisitions over the last two years, with 12 in 2017, making up 42.6% of the company's total assets.
Though the interested parties have not been identified, sources say Givaudan, International Flavors and Fragrances (IFF) and Symrise have approached Frutarom about the deal. Analysts estimate the value of the acquisition to be up to $6.5 billion. Were IFF to acquire Frutarom, the US-based company's total sales (based on 2017's Leaderboard results) would exceed Givaudan's $4.5 billion in sales and reach up to $9.6 billion. Additionally, the acquistion of Frutarom by any one of these companies will be the largest acquistion made since Givaudan's purchase of Quest in 2007.
In a statement to the Tel Aviv stock exchange, Frutarom commented, "The company from time to time reviews and discusses possible strategic business combinations, [but] no agreement has been reached between the company and any third party regarding any transaction.”