Issue Date: August 28, 2017
Frutarom adds European flavor firms
The Israeli flavors and fragrances firm Frutarom is continuing its international shopping spree with its fifth and sixth acquisitions this year. It bought England-based Flavours & Essences, a developer of flavors and natural colors, for $19.5 million. F&E had sales of $17.4 million in the prior 12 months. Frutarom also purchased the Swiss firm Mühlehof Gewürze, which specializes in savory flavors for convenience foods, for $7.0 million. Mühlehof’s sales for the prior 12 months were $3.4 million. Both of the acquired firms focus on local markets and tastes; Frutarom says the moves will increase its market share in Europe.
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