Frutarom Industries has acquired 100% of the share capital of the US flavors company Foote & Jenks (F&J) for about US$4 million.
Founded in the early 1980s, F&J develops, manufactures and markets flavor extracts for the pharmaceutical, food and beverages industries.
The company has 10 employees, a site in New Jersey for its production, research and development, marketing activities, and a customer base in North America.
Sales turnover for F&J in 2014 amounted to about US$2.9 million.
Frutarom will work towards fully capitalizing on the many cross-selling opportunities arising from the acquisition and expanding the product portfolio offered to the company’s existing customer base.
It will also work towards achieving maximum commercial and operational efficiencies at F&J in cooperation with other Frutarom USA production sites.
“This is an acquisition of growing and profitable flavor activity, Frutarom’s most profitable core field,” says president and CEO Ori Yehudai.
“A major part of F&J sales is to customers in the pharma industry who demand advanced solutions for masking the aftertaste of active ingredients contained in their products, as well as high quality, and conformance with strict regulatory requirements.”
