Frutarom to acquire Jupiter Flavors
April 23, 2007
by FoodBusinessNews.net Staff
HAIFA, ISRAEL — Frutarom Industries Ltd. has signed an agreement to acquire 100% share capital in Jupiter Flavours Ltd. — a British company that develops, produces and markets flavors.
The acquisition is through Frutarom’s subsidiary Frutarom (UK) Ltd. Frutarom made a cash payment of $2.8 million, and the agreement also includes a deferred payment of up to $600,000 based on future results Jupiter is expected to achieve.
Jupiter has been growing in recent years, with $2 million in sales volume during the year before the acquisition.
The acquisition is expected to expand Frutarom’s product options and add new customers to Frutarom’s base in Britain.
In March, Frutarom acquired Belmay, another British company.