Frutarom to acquire savory unit of Chr. Hansen Italy
May 26, 2011
by Eric Schroeder
HAIFA, ISRAEL — Frutarom Industries Ltd. reached agreement to acquire the savory business and assets of Chr. Hansen Italy for approximately $35.2 million. Frutarom said that the business had sales of about $24.3 million in 2010. Included among the assets are a high-capacity plant in Parma, Italy, and R.&D. laboratories.
Chr. Hansen Italy develops, produces and markets savory flavors, seasoning compounds and functional ingredients for the food industry, with a focus on processed meat and convenience food applications. Most of the company’s business is with leading Italian meat processors, and it also has customers in France, Poland, Czech Republic, Russia and Ukraine.
Frutarom said the acquisition will give it a “substantial presence” in Italy, where the company’s local presence has been slight. Additionally, the company said it will serve as a platform on which to expand into Italy.
“This acquisition is a continuation of Frutarom’s rapid growth strategy and further solidifies its position as one of the top ten flavor companies and as a leading global producer of savory solutions,” said Ori Yehudai, president and chief executive officer of Frutarom.
Frutarom has acquired several European companies in the past few years, including Gewurzmuller GmbH and GewurzMuhle Nesse in Germany, Christian Hansen Deutschland, Oxford Chemicals Ltd. in the United Kingdom, and two companies earlier this year, East Anglian Food Ingredients Ltd. in the United Kingdom and Rieber Industrial Spices Savory in Norway.
Frutarom has significant production and development centers on three continents and markets and sells more than 20,000 products in five continents to more than 13,000 customers in more than 120 countries.