Frutarom has announced another acquisition, buying 79% of Nutrafur shares for €10.3 million. As Frutarom's 10th acquisition this year, the company is expanding into natural plant extracts and antioxidants for food preservation.
Nutrafur specializes in R&D manufacturing, marketing and sales of natural plant extracts and antioxidants, including olive, rosemary and citrus, for the preservation and protection of food and food shelf life. Its large-production facility in Murcia, Spain, is also in close proximity to another Frutarom-acquired company, Ingrenat. The neighboring production sites are projected to reduce costs while maximizing production and operational flexibility.
Ori Yehudai, Frutarom CEO, is confident that Nutrafur and future acquisitions will propel Frutarom's sales to reach €1.35 billion by 2020. Frutarom's expansion is projected to grow "by means of strategic acquisitions and through collaboration with universities, research institutes and innovative product development startup companies," Yehudai adds.