Marking its third acquisition during 2015 amid its continuing growth strategy of reaching $1.5 billion in sales by 2020, Frutarom Industries Ltd. has acquired 100% of the share capital of the Belgian flavors company Taiga International NV for $2.9 million.
Established in 1992, Taiga manufactures and markets flavors for the food, beverages and tobacco industries, including to chocolate manufacturers. The company has 14 employees its customer base extends from Europe to North America from its site in Belgium which is home to all its production, research and development, and marketing activities. In 2014 Taiga had sales of $4.9 million.
Taiga's founder and CEO will continue being involved in operations with regards to business development and customer relations, as well as the operational aspects of integrating production activity into Frutarom's existing infrastructure, together with Frutarom management.