HERZLIYA, ISRAEL — Frutarom Industries Ltd. has announced yet another acquisition, agreeing to acquire 75% of the share capital of AMCO Sp. z o.o. of Poland for $20.7 million. The purchase agreement includes an option for acquiring the remaining balance of shares starting two and a half years from the closing date of the transaction at a price based on the company’s business performance. The transaction will be financed using bank debt and will be completed within the next few weeks, Frutarom said. It is the eleventh acquisition announced by Frutarom in the past year.
Founded in 1998, AMCO has an R.&D. and sales and marketing center along with a production site in Warsaw, Poland, with large production capacity and significant room to expand. AMCO employs a staff of 70, including 12 engaged in R.&D. AMCO’s main activity is the development, production and marketing of innovative savory flavor solutions (the non-sweet spectrum of flavors) that include seasoning blends, marinades and functional ingredients for the food industry. The company’s sales in the 12-month period ended Sept. 30, 2015, reached approximately $19.5 million.