Move strengthens company’s position as a global player in citrus
July 30, 2015
Frutarom Industries Ltd. ("Frutarom"), one of the world's 10 largest companies in the field of flavors and specialty fine ingredients, announced today the acquisition of the business operations and assets of Scandia Citrus LLC. of Florida, USA ("Scandia"), which specializes in the research and development, manufacture, and sales and marketing of specialty solutions in the field of citrus for leading global customers in the flavor, food and beverages markets, for approximately US$ 6 million. Scandia's sales in 2014 totaled approximately US$ 8 million. The transaction was completed upon the signing of the agreement and financed through bank debt.
Frutarom Industries Ltd. signed an agreement for the acquisition of the Brazilian Mylner Indústria E Comércio, in return for approximately $15.7 million.
